Bearish Momentum Looms as Bitcoin Network Activity Hits New Low
The Bitcoin network has been flashing warning signs as activity slows down. A recent analysis by crypto analyst Yonsei_dent on CryptoQuant reveals a decline in Bitcoin's network fundamentals since Q4 2024.
The Active Addresses (AA) metric, which tracks the number of wallet addresses participating in transactions over a defined period, has been declining steadily. This metric often gauges investor sentiment on the blockchain.
A 'death cross' has appeared, marked by the 30-day moving average (30DMA) for active addresses crossing below the 365-day moving average (365DMA). This pattern suggests looming bearish momentum and possibly extended downturns in both price and network activity.