Bitcoin Activity Hits Lowest Levels Since 2010 Amid Retail Investor Retreat

The ratio of active Bitcoin addresses has fallen to its lowest level since November 2010, based on onchain data from IntoTheBlock. In June, the weekly active wallet ratio hit a low of 1.22%, peaking at 1.32%. This highest ratio was last seen in November 2010. Moreover, the total number of active wallets has also reached multi-year lows. The week of May 27 recorded 614,770 active wallets, the lowest since December 2018. A declining active address ratio signifies a reduction in buying and selling activity among Bitcoin holders, suggesting a phase of market consolidation. Juan Pellicer, a senior researcher at IntoTheBlock,