Bitcoin wallet activity has fallen to its lowest level since November 2010, according to IntoTheBlock. In June, the active wallet ratio dropped to 1.22%, having peaked at 1.32%. This indicates a lack of buying and selling activity among holders, suggesting a stage of market consolidation. 📉 IntoTheBlock researcher Juan Pellicer attributes the decline in wallet activity to a decline in retail investor participation. While the cryptocurrency focus is on meme coins and celebrities, Bitcoin's fortunes can be considered stable compared to smaller meme coins.