Bitcoin active addresses drop sharply as ETFs reshape the market cycle
Source: CoinWorld
Time: 2025-09-16 18:37:02
Bitcoin’s current market cycle is different from its historical model, with active addresses falling despite the price hitting a new high of more than $140,000. Analysts attribute this shift to the rise of spot Bitcoin ETFs and centralized exchange products that allow investors to gain investment without on-chain activity. The idle wallets of long-term holders further lowered address metrics, indicating that demand is increasingly driven by financial products and passive strategies rather than direct blockchain participation.