Since early 2024, Bitcoin and Ethereum have experienced a decline in active addresses, a crucial metric for gauging market sentiment.

For the bulls to regain control, an influx of new investors is essential.

Current Market Snapshot:

– Bitcoin active addresses: 1.17M (early 2024) → 855K
– Ethereum active addresses: 382K (early 2024) → 312K

However, a glimmer of hope emerges:

• Bitcoin inflows into exchange user wallets remain steady, contrasting with the last bear market.

• Bitcoin’s price action suggests a potential trend reversal: higher lows and higher highs.

Recent ETF flows further fuel optimism:

• Bitcoin spot ETF: $61.2966 million net inflow on September 30, marking eight consecutive days of net inflows.
• BlackRock ETF IBIT: $72.1517 million inflow.

These developments hint at a shifting market narrative:

• New investor interest
• Steady inflows
• Potential trend reversal

To sustain this momentum, fresh investment is vital. Will Bitcoin’s bullish turnaround continue?

Key takeaways:

• Active address decline slows
• Steady ETF inflows
• Potential trend reversal

Stay tuned for further market insights.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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