• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Bitcoin Bear

Bitcoin Active Addresses Stay Low, A Hint That Demand Isn’t There Yet

Hououin Kyouma by Hououin Kyouma
8 months ago
in Bitcoin
Reading Time: 3 mins read

On-chain data shows the number of active Bitcoin addresses have remained at a low value for a while now, suggesting there isn’t much demand for the crypto currently.

Bitcoin Active Addresses Have Continued To Move Sideways Recently

As pointed out by an analyst in a CryptoQuant post, the BTC network activity has been low in recent days, implying there isn’t enough demand for a bull rally just yet.

The “number of active addresses” is an indicator that measures the total amount of addresses on the Bitcoin blockchain that have been taking part in some activity, whether that be sending or receiving.

When the value of this metric is high, it means the network is observing a lot of activity right now. Such a trend shows the general interest around the crypto is high among traders currently.

Related Reading: Glassnode: Bitcoin Is Currently In “Bear To Bull” Transition Period

On the other hand, low values of the indicator can suggest the chain isn’t viewing much trading activity at the moment.

Now, here is a chart that shows the trend in the Bitcoin active addresses over the last few years:

Bitcoin Active Addresses

Looks like the value of the metric has been quite stagnant in recent months | Source: CryptoQuant

As you can see in the above graph, the quant from the post has highlighted the relevant periods of trend for the Bitcoin active addresses.

Historically, bear markets have observed low and stagnating values of the indicator. The reason behind it is that large declines in the price usually scare away newcomers and short-term traders from the crypto, thus killing off activity on the network.

Related Reading: Bitcoin (BTC) Bear Market Price Prediction As XRP Pumps Off SEC News

In the times leading up to bull runs, the market has generally seen a gradual buildup of active addresses, which eventually hit a peak alongside the price. This kind of uptrend signals increasing demand for Bitcoin among all kinds of traders.

Most recently, the metric has been stuck in sideways movement as the crypto has been in the middle of a bear market. There still hasn’t been, however, any sign of the number of active addresses going up yet.

The analyst explains that this recent low demand suggests BTC still hasn’t built up any stable setup for a long-term sustainable rally that can lead to a new bull market.

BTC Price

At the time of writing, Bitcoin’s price floats around $18.8k, up 1% in the past week. Over the last month, the crypto has lost 12% in value.

The below chart shows the trend in BTC’s price over the past five days.

Bitcoin Price Chart

Looks like the value of the crypto hasn't shown much movement during the last few days | Source: BTCUSD on TradingView
Featured image from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Tags: bitcoinBitcoin active addressesBitcoin demandbtcbtcusd
Tweet123Share196ShareSend
Hououin Kyouma

Hououin Kyouma

Kyouma is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Kyouma has been writing for many years, first as a hobbyist and later as a freelancer. He obtained a bachelor's in physics in 2022 and is planning on starting a master's in the same field in the near future. Kyouma is enthusiastic about the cryptocurrency industry and holds an active interest in on-chain analysis. His hobbies include gaming, anime, and football. You can find Kyouma on Twitter at @Kyouma29.

Related Posts

Bitcoin (BTC)

Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

15 hours ago
Bitcoin (BTC)

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

1 day ago
Bitcoin

Bitcoin Shows Recovery: Did This Historical Line Act As Support Again?

2 days ago
Bitcoin Core

Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future

2 days ago
Bitcoin (BTC)

JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why

4 days ago
Bitcoin

Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?

4 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • As Bitcoin Transaction Fees Soar, DigiToads Presale...

    8 hours ago
  • Online Betting Decentralized: Chancer Announces P2P Betting...

    8 hours ago
  • Crypto Aficionados Turn to InQubeta (QUBE) Presale and Gmx...

    12 hours ago
  • Digital Financial Exchange (DIFX) Officially Unveils...

    12 hours ago
  • Hedera, VeChain and ApeCoin among the most lucrative...

    13 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.