Bitcoin's active address momentum has fallen to -0.25, marking its weakest point since April 2018, according to CryptoQuant data. The metric tracks changes in active user participation, with negative readings indicating shrinking network activity. This decline has persisted since July 2025, mirroring a similar 2024 period that preceded a 35% price drop.
The reduced activity reflects fewer short-term traders in the market, leaving primarily long-term holders focused on accumulation rather than trading. Despite contracting daily user engagement, institutional and retail investors have significantly increased their Bitcoin holdings. This shift suggests a market transition from speculative trading to strategic accumulation.