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$BTC On-Chain Active Addresses vs Price
Data from Glassnode shows one important thing:
When the price $BTC rises, the number of Active Addresses also tends to increase.
What does that mean? Network participation is growing.
But now there's an interesting development:
The price $BTC is still relatively high,
Active Addresses are starting to weaken compared to the peak.
This could indicate:
1. Retail activity has not fully returned
2. Price increases are driven more by large liquidity/institutions
3. Potential distribution phase if activity does not increase accordingly
In the previous cycl