Bitcoin's most active supply hits 8-year low

Bitcoin's supply last active less than a month ago has plummeted to an 8-year low. This often overlooked metric provides essential insights into the market's current dynamics and is useful when analyzing historical trends.

Timeline of Bitcoin

On-chain data shows Bitcoin is currently not satisfying a condition that has historically occurred alongside major bottoms in the price. Bitcoin Supply In Profit Is Still Greater Than Supply In Loss In a new post on X, James V.

Widely followed crypto analyst Jason Pizzino thinks Bitcoin (BTC) could be forced to endure an unexciting couple of months before it flips bullish again. In a new YouTube video, Pizzino tells his 289,000 subscribers that BTC appears to be moving along a “grinding bottom” after its significant price dip last week.

A widely followed crypto analyst is breaking down Ethereum (ETH) and Bitcoin (BTC) while naming altcoins he thinks could outperform the slumping markets. Crypto trader Michaël van de Poppe suggests to his 663,900 followers on the social media platform X that, historically speaking, ETH's current price dip might have something to do with BTC's upcoming halving.

FTX Trading Ltd., accompanied by its linked debtors, has approached the U.S. Bankruptcy Court in Delaware with a proposal to collaborate with Michael Novogratz's Galaxy Digital Capital Management LP, also known as Galaxy Asset Management.

The previously unidentified address that accumulated more than $3 billion in the world's largest digital currency over the past three months and now recognized as the third largest Bitcoin (CRYPTO: BTC) wallet, has been identified. It allegedly belongs to Robinhood Markets Inc. (NASDAQ: HOOD), based on findings from Arkham Intelligence shared in a tweet by BitCoin News.

Ark Invest Founder Cathie Wood is among the big believers that the price of Bitcoin (CRYPTO: BTC) will rise. Ark Invest is among the companies that have filed to launch a Bitcoin ETF, an issue that awaits SEC approval.

Bitcoin deposited in exchange wallets has now dropped to 2.05 million BTC, its lowest since January 2018. With the overall crypto market sentiment trending neutral, here's how Bitcoin price could react in the coming days.

The Sultanate of Oman, traditionally known for its vast desert landscapes and rich history, is making headlines in the modern digital world. According to a recent Forbes report, the nation is set to invest over $1.1 billion in privately-owned bitcoin mining facilities, signaling a significant shift in its economic focus.

Blockchain analytics platform Santiment says that a key social metric indicates crypto markets may soon rebound after crashing. Santiment says that after Bitcoin's sudden collapse below $26,000, the use of the term “bear market” has increased to an 11-week high on social media platforms, which is a bullish signal.

On-chain data shows the Bitcoin NVT ratio is currently flashing a buy signal, a sign that the bottom for the asset's price might now be in. Bitcoin NVT Golden Cross Is Showing A Green Signal As pointed out by an analyst in a CryptoQuant post, the Network Value to Transactions (NVT) Golden Cross has now dipped below the -2 mark.