Bitcoin Daily Active Addresses Surge to Record Highs

Bitcoin's on-chain activity has reached new heights as it attempts to cross the $100,000 mark. According to IntotheBlock Data, daily active addresses on the Bitcoin blockchain are nearing 1 million, a milestone not seen since 2021.

This surge in investor interest is depicted by the rise in usage and adoption of the network, particularly among retail investors. A spike in daily active addresses indicates that more unique addresses are engaging with the Bitcoin blockchain within a 24-hour window period.

The increase in daily active addresses echoes the market activity seen in 2021 when BTC price rallied to $60,000 before retreating to the $20,000 range. Although the current price correction has led to a dip below $93,000, data shows that 460,000 addresses have accumulated more than 340,000 BTC at a price of over $97,000.

Meanwhile, spot Bitcoin ETFs have witnessed an increase in outflows as the price sank below $93,000 due to a long liquidation wave. Twelve spot Bitcoin ETFs saw an outflow of $438.38 million on Monday, November 25, after a 5-day high inflow that caused the weekly inflow to rise to $3.38 billion last week.