{"id":503668,"date":"2022-09-26T19:00:15","date_gmt":"2022-09-26T19:00:15","guid":{"rendered":"https:\/\/wncen.com\/?p=503668"},"modified":"2024-06-11T14:26:38","modified_gmt":"2024-06-11T14:26:38","slug":"bitcoin-active-addresses-low-hint-demand-yet","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-active-addresses-low-hint-demand-yet\/","title":{"rendered":"Bitcoin Active Addresses Stay Low, A Hint That Demand Isn’t There Yet"},"content":{"rendered":"

On-chain data shows the number of active Bitcoin addresses have remained at a low value for a while now, suggesting there isn’t much demand for the crypto currently.<\/p>\n

Bitcoin Active Addresses Have Continued To Move Sideways Recently<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the BTC network activity has been low in recent days, implying there isn’t enough demand for a bull rally just yet.<\/p>\n

The “number of active addresses<\/a>” is an indicator that measures the total amount of addresses on the Bitcoin blockchain that have been taking part in some activity, whether that be sending or receiving.<\/p>\n

When the value of this metric is high, it means the network is observing a lot of activity right now. Such a trend shows the general interest around the crypto is high among traders currently.<\/p>\n

Related Reading: Glassnode: Bitcoin Is Currently In \u201cBear To Bull\u201d Transition Period<\/a><\/em><\/strong><\/div>\n

On the other hand, low values of the indicator can suggest the chain isn’t viewing much trading activity at the moment.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin active addresses over the last few years:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has been quite stagnant in recent months | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the quant from the post has highlighted the relevant periods of trend for the Bitcoin active addresses.<\/p>\n
Historically, bear markets have observed low and stagnating values of the indicator. The reason behind it is that large declines in the price usually scare away newcomers and short-term traders from the crypto, thus killing off activity on the network.<\/p>\n
Related Reading:  Bitcoin (BTC) Bear Market Price Prediction As XRP Pumps Off SEC News<\/a><\/em><\/strong><\/div>\n
In the times leading up to bull runs, the market has generally seen a gradual buildup of active addresses, which eventually hit a peak alongside the price. This kind of uptrend signals increasing demand for Bitcoin among all kinds of traders.<\/p>\n
Most recently, the metric has been stuck in sideways movement as the crypto has been in the middle of a bear market<\/a>. There still hasn’t been, however, any sign of the number of active addresses going up yet.<\/p>\n
The analyst explains that this recent low demand suggests BTC still hasn’t built up any stable setup for a long-term sustainable rally that can lead to a new bull market.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $18.8k, up 1% in the past week. Over the last month, the crypto has lost 12% in value.<\/p>\n
The below chart shows the trend in BTC’s price over the past five days.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the value of the crypto hasn't shown much movement during the last few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the number of active Bitcoin addresses have remained at a low value for a while now, suggesting there isn’t much demand for the crypto currently. Bitcoin Active Addresses Have Continued To Move Sideways Recently As pointed out by an analyst in a CryptoQuant post, the BTC network activity has been low in recent days, implying there isn’t enough demand for a bull rally just yet. The “number of active addresses” is an indicator that measures the total amount of addresses on the Bitcoin blockchain that have been taking part in some activity, whether that be sending or receiving. When the value of this metric is high, it means the network is observing a lot of activity right now. Such a trend shows the general interest around the crypto is high among traders currently. Related Reading: Glassnode: Bitcoin Is Currently In \u201cBear To Bull\u201d Transition Period On the other hand, low values of the indicator can suggest the chain isn’t viewing much trading activity at the moment. Now, here is a chart that shows the trend in the Bitcoin active addresses over the last few years: Looks like the value of the metric has been quite stagnant in recent months | Source: CryptoQuant As you can see in the above graph, the quant from the post has highlighted the relevant periods of trend for the Bitcoin active addresses. Historically, bear markets have observed low and stagnating values of the indicator. The reason behind it is that large declines in the price usually scare away newcomers and short-term traders from the crypto, thus killing off activity on the network. Related Reading: Bitcoin (BTC) Bear Market Price Prediction As XRP Pumps Off SEC News In the times leading up to bull runs, the market has generally seen a gradual buildup of active addresses, which eventually hit a peak alongside the price. This kind of uptrend signals increasing demand for Bitcoin among all kinds of traders. Most recently, the metric has been stuck in sideways movement as the crypto has been in the middle of a bear market. There still hasn’t been, however, any sign of the number of active addresses going up yet. The analyst explains that this recent low demand suggests BTC still hasn’t built up any stable setup for a long-term sustainable rally that can lead to a new bull market. BTC Price At the time of writing, Bitcoin’s price floats around $18.8k, up 1% in the past week. Over the last month, the crypto has lost 12% in value. The below chart shows the trend in BTC’s price over the past five days. Looks like the value of the crypto hasn’t shown much movement during the last few days | Source: BTCUSD on TradingView Featured image from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":503681,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84875,5605,1119,1144],"class_list":["post-503668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-active-addresses","tag-bitcoin-demand","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Active Addresses Stay Low, A Hint That Demand Isn't There Yet<\/title>\n<meta name=\"description\" content=\"On-chain data shows the number of active Bitcoin addresses have remained at a low value for a while now, 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Active Addresses Stay Low, A Hint That Demand Isn’t There Yet","url":"http:\/\/wncen.com\/news\/bitcoin-active-addresses-low-hint-demand-yet\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-active-addresses-low-hint-demand-yet\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/hans-jurgen-mager-Opd59VdnPn0-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/hans-jurgen-mager-Opd59VdnPn0-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin active addresses","bitcoin demand","btc","btcusd"],"dateCreated":"2022-09-26T19:00:15Z","datePublished":"2022-09-26T19:00:15Z","dateModified":"2024-06-11T14:26:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Active Addresses Stay Low, A Hint That Demand Isn’t There Yet\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-active-addresses-low-hint-demand-yet\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-active-addresses-low-hint-demand-yet\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/hans-jurgen-mager-Opd59VdnPn0-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/hans-jurgen-mager-Opd59VdnPn0-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin active addresses\",\"bitcoin demand\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-09-26T19:00:15Z\",\"datePublished\":\"2022-09-26T19:00:15Z\",\"dateModified\":\"2024-06-11T14:26:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/hans-jurgen-mager-Opd59VdnPn0-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/503668"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=503668"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/503668\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/503681"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=503668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=503668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=503668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}