Bitcoin Network Activity Don Enter Bearish Side Even As Stablecoin Market Cap Dey Rise
New data from CryptoQuant show say Bitcoin network activity don fall inside bear market zone, with active addresses and how transactions dey grow just stand since December. Even though Bitcoin reach high as $97,000 recently, wetin dey happen for on-chain no follow pace, meaning say the price go up lately na mainly because of money wey big companies and Spot Bitcoin ETF dey put in, not because plenty people dey use the network normally. Important things like active addresses still dey below 1 million, and practical use as network to pay money dey still fall, with some activity moving to second-layer solutions and other blockchains like Ethereum, Solana, and Base. IntoTheBlock still report say the total money wey all stablecoins get don reach new all-time high, showing say plenty money dey available to enter crypto market and fit support Bitcoin if price fall. As at the time of reporting, Bitcoin dey trade around $93,800, down about 1% for the past week. Traders suppose watch Bitcoin on-chain activity and stablecoin flow well-well, as historically, when network demand weak, price dey fall, although similar signals before don sometimes lead to price going up when big money enter.
Bearish
Di serious fall for how Bitcoin take dey use, like small number of active address and transaction no dey increase well, na one kine sign say price fit fall wey crypto traders sabi well well. This one show say the current price na because big big company dey invest and stablecoin get plenty money, no be say plenty people dey use the network normally. Even though the stablecoin market get the highest money e don ever get, wey fit help small and make money enta later, wetin don happen before show say if people no dey use the network reach, e dey stop Bitcoin price from going up well and e fit make price fall. If people no start to use am well well again, the risk for price to fall small small for some time still high, even as the stablecoin money wey plenty fit stop serious loss or prepare ground for price to bounce back later.