- Bitcoin’s price surge faces uncertainty as new address creation stalls, raising questions about rally sustainability.
- Whales accumulate BTC despite network growth slowdowns, while exchange inflows hint at mixed sentiments.
- Regulatory pressure and technical challenges complicate Bitcoin’s market outlook, making the future uncertain.
Despite the recent surge in Bitcoin’s price, reaching a high of $44,000, there’s a growing concern over the stagnation in Bitcoin network growth. An increase in new addresses typically supports a healthy and sustainable bull rally in the cryptocurrency market. However, recent data suggests a noticeable dip in new Bitcoin address creation, casting doubts on the longevity of the current price uptick.
There's been a noticeable dip in #Bitcoin network growth over the past month, casting doubt on the sustainability of $BTC's recent move to $44,000.For a robust continuation of the bull rally, it's crucial to see an uptick in the number of new $BTC addresses. This would provide… pic.twitter.com/WkrjxLkZMI
— Ali (@ali_charts) December 18, 2023
BTC Whales Accumulate as New Addresses Decline
Interestingly, while the overall network …
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