On-chain activity in Bitcoin is at its highest since December 2024, as measured by the number of active addresses. And this is making many in the crypto community sit up and take notice, because when you get right down to it, active addresses are probably the best on-chain metric for trying to gauge what might happen next with the market. “Historically, spikes in active addresses have preceded (and often accompanied) significant price movement in both directions,” Vetle Lunde, an analyst at Arcane Research, told Decrypt. In a research note released earlier this week, Arcane said active addresses on the Bitcoin
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