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Bitcoin Network Hits 1.5-Year Low: Is a Major Shift on the Horizon?
- Bitcoin network activity has reached a 1.5-year low, indicating a potential market shift.
- Retail demand for Bitcoin has dropped over 5%, with trading volume falling to October 2020 levels.
- Long-term Bitcoin holders have accumulated 847.2K BTC, while Ethereum futures have reached new highs.
- The Network Activity Index for Bitcoin has decreased significantly, signaling a slowdown in network activity.
- Fewer small investors are showing interest in BTC, as seen by a decrease in transactions in the $0 to $10K range.
- Centralized exchange trading volumes have returned to levels last seen in October 2020, indicating declining retail activity.
- The market struggles to attract participants organically, with stagnant BTC trading across blockchains and exchanges.
- Long-term investors have accumulated a substantial amount of BTC, with coins remaining unchanged for over 155 days, pointing to investor confidence.
- Ethereum futures have surged to new records, indicating growing interest in futures contracts.
- Despite limited blockchain activity, many BTC investors remain focused on the long term, while Ethereum futures trading is on the rise.
- The decreased Bitcoin network activity hints at a potentially significant upcoming market change, and investors are holding onto their BTC for longer durations.
- The article is eligible for a web story as it discusses current trends in the Bitcoin market and potential implications for investors and traders.
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