Bitcoin active addresses hit lowest level in over 7 years

The Bitcoin ($BTC) network has quietly hit a new low nobody asked for: utilization is at its weakest point in more than seven years, even as selling pressure lingers. As of June 4, the 60-day moving average for Bitcoin active addresses hovered just above 600,000, according to data from Bitcoin Magazine Pro analyzed by Finbold. Activity has been grinding lower since the end of the 2021 bull run, now retesting levels last seen during the 2019 bear market. Bitcoin active addresses from 2018 to 2016. Source: Bitcoin Magazine Pro.

Bitcoin network activity has slid over the past few years, a decline the industry politely attributes to "maturation" and rising competition from other layer-one (L1) networks. Utilization also took a hit after the approval of spot exchange-traded funds (ETFs), as more investors opted for traditional instruments offering greater liquidity and regulatory clarity. The Genius Act — a U.S. law establishing federal rules for stablecoin issuers, signed into law in July 2025 — further chipped away at $BTC network usage. Meanwhile, institutional players have launched stablecoins on other chains, including Ethereum (ETH), Solana (SOL), and Tron (TRX), to facilitate fast, frequent global payments.

What's next for Bitcoin price amid declining utilization The notable decline in Bitcoin's active addresses has further weighed on bullish sentiment. The flagship coin is down more than 26% year-to-date (YTD), trading at around $63,950 at the time of reporting. $BTC /USD YTD chart. Source: Finbold. With $BTC price retesting its February 2026 support level, as Finbold explained, a potential rebound in its network activity could trigger its bull rally.

However, amid ongoing capital flight to artificial intelligence (AI)-related stocks, the $BTC network could see further declines in activity, putting the flagship coin under additional selling pressure over the coming months.