<ul data-eligibleForWebStory="true"><li>The number of active BTC addresses remains stagnant at levels last seen in 2020, despite Bitcoin's surge past $105,000.</li><li>Analysis by Alphractal suggests the lack of activity does not indicate celebration of Bitcoin's milestone but rather indicates disinterest in the market.</li><li>Alphractal argues that the stagnation is not due to long-term conviction or holder discipline, as both on-chain transaction volume and spot exchange activity remain low.</li><li>The report highlights that despite Bitcoin's price exceeding $100,000, overall interest seems minimal among retail and institutional investors.</li><li>Alphractal dismisses the notion that subdued participation is due to Bitcoin being seen as a passive store of value, attributing it to disillusionment among investors.</li></ul>

Active Addresses Drop as Bitcoin Surges Past $105,000

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