Bitcoin Network Activity Dips But Price Soars: New Era for $BTC?

Fewer new users are joining the Bitcoin network, with the daily average of new unique addresses dropping below 250,000. This suggests lower demand for direct BTC ownership over the past six months.

However, that hasn't stopped Bitcoin's price from rising. The surge in popularity of ETFs and Futures contracts seems to be driving growth independent of direct network activity.

Is this a new chapter for Bitcoin? Could the traditional metrics of network activity be less important in the future?