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Posted: 2025-06-30 00:16:24 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-06-30 00:16:40 UTC
Verified By
Rollup News
Bitcoin's current bull cycle is unique as it doesn't show the typical increase in on-chain activity, with active addresses declining since 2021. The introduction of Bitcoin spot ETFs in early 2024 may have led investors to prefer ETF exposure over direct BTC holding, impacting on-chain metrics.
Decline in on-chain activity during a bull cycle
Impact of Bitcoin spot ETFs on investment behavior
Shift from direct BTC holding to ETF exposure
Reduction in active Bitcoin addresses
Decreasing number of active Bitcoin addresses
Potential shift in investment preferences due to ETFs
Complexity of managing Bitcoin transactions directly
Security risks associated with self-custody of Bitcoin