Bitcoin network activity don reach lowest for 7 years as ETFs and stablecoins shift demand

Published: 2026-06-04 17:10:06 |

Bitcoin network activity don drop reach the lowest level for more than seven years, as di 60-day moving average of active Bitcoin addresses dey just above 600,000 (June 4). The decline start after the 2021 bull run and e resemble the weaker usage wey dey happen around the 2019 bear market. Traders suppose note the structural reasons behind the fall for Bitcoin network activity. Spot Bitcoin ETFs dey reduce some holders’ need to do on-chain transactions. Meanwhile, stablecoin usage dey concentrate more for faster-payment networks. The article connect part of that shift to the U.S. “Genius Act” wey dem sign in July 2025, wey set federal stablecoin rules and boost institutional stablecoin issuance and activity for Ethereum, Solana, and Tron—this one dey dilute Bitcoin’s share of transactional demand. By reporting time, BTC dey around $63,950 and e don drop over 26% year-to-date, with people eyeing the February 2026 support zone. The piece also talk say short-term sentiment get small cushion from weaker-than-expected U.S. labor data, but warn say Bitcoin network activity still be headwind if capital keep rotating into other sectors like AI stocks. Positioning: A sustained rebound in Bitcoin network activity likely needed to bring back bullish momentum. If that no happen, market confidence fit remain fragile and downside pressure fit continue.

Bearish

Bitcoin network activity for 7-year low dem usually fit wit weaker risk appetite an reduced on-chain use. Di later article add say spot Bitcoin ETFs an di July 2025 “Genius Act” likely dey shift transactional demand comot from Bitcoin go faster-payment ecosystems, weh stablecoin activity dey grow for ETH/SOL/TRON. Dis one reduce di immediate chance say improved usage go start positive feedback loop, so downside pressure remain relevant. Short-term, weaker U.S. labor market print fit give small sentiment boost, but without stabilization (or rebound) for Bitcoin network activity, rallies fit lack fundamental support. Long-term, if capital continue to rotate into oda sectors like AI, Bitcoin fit face sustained headwinds till active addresses recover meaningfully.