Bitcoin's price surges have failed to translate into a commensurate uptick in adoption, as evidenced by a persistent downtrend in active addresses throughout 2024. While the transition of some on-chain participants to ETF holders may introduce complexities in data interpretation, sufficient time has likely elapsed post-ETF for stabilization. In this context, amid increasing uncertainly, I think a heightened responsiveness to shorter-term signals is needed.
Written by Phi Deltalytics