Recently, it achieved a 24-hour high of $67,697 but then saw a slight retreat, now trading at around $66,886.
This led the average weekly number of new Bitcoin addresses to nearly reach the peak levels last seen in December 2017. However, recent data indicates a significant downturn in this trend.The seven-day moving average number of new addresses on the Bitcoin network has plummeted to levels not seen since 2018.
While the decline in these metrics might seem negative, it is essential to understand the broader context.
Source: Digital Coin News (digitalcoinnews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin trader engagement on the rise: A new era for BTC?Bitcoin's open interest expanded significantly despite a decline in BTC price. How will BTC be impacted in the future?
Source: CryptoAmb - 🏆 22. / 68 Read more »
Decoding Bitcoin’s 20% hashrate decline: Why are miners struggling?The decline in Bitcoin’s [BTC] hashrate post-halving hints at a potential miner capitulation, pseudonymous CryptoQuant analyst...
Source: CryptoAmb - 🏆 22. / 68 Read more »
Decoding Bitcoin’s recent price surge: This group leads the wayShort-term holders started accumulating substantial amounts of BTC holdings. How will BTC be affected in the long run?
Source: CryptoAmb - 🏆 22. / 68 Read more »
Willy Woo’s Bitcoin price prediction: BTC has ‘room to run’ and that means…Bitcoin recorded a notable hike recently, with gains of 4.9% seen over the past week. This uptick has contributed to a broader bullish...
Source: CryptoAmb - 🏆 22. / 68 Read more »
Large Bitcoin wallets reach pre-FTX levels – What it means for BTCBitcoin addresses holding 1,000 or more BTCs are picking up more BTCs and are gradually returning to the pre-FTX level.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin miners refuse to sell: A strategy to uphold BTC prices?Despite market volatility, Bitcoin miners persist in holding onto their BTC. Will BTC miners help Bitcoin see green?
Source: CryptoAmb - 🏆 22. / 68 Read more »