<ul data-eligibleForWebStory="false">On-chain data reveals a significant decrease in Bitcoin activity over the past month, with a 17% drop in active supply.Historical analysis shows that similar declines in active supply preceded bullish momentum for Bitcoin in previous instances.The current 30-day change in Bitcoin % Supply Active sits at -17%, indicating a cooling off of interest around the network.The future trajectory of Bitcoin remains uncertain, with past trends suggesting potential bullish momentum after periods of decreased activity.