Under the condition of a decrease in active addresses, the price of Bitcoin shows "no clear direction"
September 4th news, according to Cointelegraph, a key indicator of Bitcoin has now reached levels usually only observed after asset prices peak, increasing the uncertainty of Bitcoin's future price trend. The number of active addresses for Bitcoin (BTC) (representing the total number of active users on the network) has "significantly declined" since early 2024, a pattern historically formed after Bitcoin prices peaked in bull market cycles in 2017 and 2021. CryptoQuant pointed out in its research report on September 3rd that Bitcoin's price did not follow the typical decline pattern seen in previous cycles. Instead, its price has been "consolidating within a wide range without a clear direction."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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