Bitcoin transactions have dived 30% in the past 6 months as a "sense of disinterest" descends over the crypto markets, the analysis concludes. The total number of active addresses on the Bitcoin network has hit new lows in 2024, reaching the same level as 3 years ago when the BTC price was around $45,000.

At their peak in mid-March, around the time BTC/USD set its most recent all-time high, daily active addresses numbered nearly 1.2 million. Now, that number has plummeted to just 838,000, with a recent low in late August coming in at just 744,000 - the lowest active daily tally since 2021.

The data suggests Bitcoin is "well and truly stuck", but there are signs that a BTC price breakout from an increasingly "unstable" range is brewing. The analysis warns that the crypto markets are facing a growing sense of "disinterest" as network activity hits three-year lows.

Source: https://cointelegraph.com/news/bitcoin-transactions-dive-30-6-months-btc-price-disinterest

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