Bitcoin On-Chain Activity Surges Despite Price Volatility

Bitcoin's on-chain usage is increasing rapidly despite its price remaining in recovery mode. According to Mark Moss, much of the recent inflow into Bitcoin originates from ETFs operating off chain.

Moss notes that while some may focus on near-term price movements, Bitcoin network fundamentals can strengthen independently from price jumps driven by increased on-chain activity.

In his previous analysis, Moss stated that Bitcoin's fixed supply allows for simpler price predictions with demand as the main variable affecting future value. He has also described Bitcoin as a neutral reserve asset for global settlement, citing its potential role in geopolitical and technological developments.