Bitcoin active addresses drop, leading to decreased network activity and potential price stability

From Investing.com

September 5, 2024 3:00:24 pm:

CryptoQuant analysis shows a drop in active Bitcoin addresses, signaling decreased network activity with the lowest level in 3 years. This lack of interest may lead to lower trading volumes and price stability, as Bitcoin remains in a range between $49,050 and $73,000. Some investors see this as a buying opportunity while others view it as a sign of weakness.
Glassnode reports increased downward pressure on Bitcoin in the last 3 months, resulting in the market’s most substantial fall of the cycle. Despite being 22% below its recent ATH, long-term investors are still profitable, but short-term holders are significantly underwater. BTC is trading at $57,148, up 1.55% in the last 24 hours.

Read more at Investing.com: Bitcoin Active Addresses Drop – Cause for Alarm? By U.Today