📉 Bitcoin's active address ratio is at its lowest since 2010, with a mere 1.22% in June. Active wallets? Also at a multi-year low. But don't panic, it's just a sign of market consolidation. 🧐

👨‍💼 Juan Pellicer from IntoTheBlock blames the drop on weaker retail participation. Seems like this year's Bitcoin high was driven by big institutions, not your average Joe.

🐳 As we brace for more whale movements, much of the bearish trading activity is happening offchain. So, it's not affecting onchain address activity stats.

🔮 Runes, Bitcoin's new token protocol, is also seeing a dip in activity. But don't fret, it's likely just a temporary lull.

🎭 Meanwhile, the crypto world is all about memecoins and celeb tokens. Bitcoin may be volatile, but it's a rock compared to these wild cards.

💬 What's your take on this? Are we in for a consolidation phase or is something bigger brewing? Let's chat in the comments! #DeFi #Web3 #Technology 🚀