burakkesmeci
Since the beginning of 2024, the number of active Bitcoin and Ethereum addresses has continued to decline.
Since the beginning of 2024, the number of active Bitcoin and Ethereum addresses has continued to decline. For the bulls to dominate the market, the influx of new investors is a crucial condition. 1-Bitcoin 1.17M --> 855K 2-Ethereum 382K --> 312K Comment Weโre still playing to ourselves. New investors arenโt entering the crypto space. The liquidity and investors waiting for spot ETFs have already entered (we canโt see this on-chain). However, despite this, the decline in active addresses shows that the โhypeโ hasnโt arrived yet. The anticipated rally following the Fed's first rate cut also didnโt happen. Why? Because the Fed is continuing QT (quantitative tightening), which, in simple terms, means pulling liquidity from the market. However, slight increases in the M2 money supply are also noteworthy during the same period. In the end, the Fed will sooner or later shift back to QE (quantitative easing), which means pumping liquidity into the market. When that happens, I believe weโll see the long-awaited hype and a rise in active addresses. Patience is a steel shield.