Bitcoin’s price has been bouncing around between $100,000 and $111,000 in June. While it hasn’t seen the super-fast price increases of the past, it’s stayed above $100,000, showing some stability.
Active Addresses: A 2020 Echo
Recently, analysts noticed something interesting: the number of active Bitcoin addresses is similar to what it was in 2020. An active address is simply one that’s sending or receiving Bitcoin. This low level of activity is surprising, considering the price is still over $100,000.
Why the Low Activity?
Analysts have a couple of theories:
- Market Disillusionment: Maybe investors are just tired of all the crypto market drama, even with Bitcoin’s high price.
- Strong Long-Term Belief:
Or, perhaps many people strongly believe in Bitcoin as a long-term investment, so they’re not actively trading it. However, this theory is less likely because other indicators like trading volume are also low, suggesting not much is happening overall.
The analysts suggest that only the most dedicated Bitcoin holders are taking advantage of the $100,000+ price.
Bitcoin’s Current Price
At the time of writing, Bitcoin is around $103,290, down slightly over the past 24 hours and about 2.4% over the past week.
