Bitcoin network activity has fallen to a minimum

Network activity in the bitcoin blockchain has reached its lowest level in 13 years, according to data from the BitInfoCharts analytical platform. The number of active addresses — unique wallets that participate in transactions as senders or recipients — has decreased by more than 30% compared to the peak values of 2025.

According to CryptoQuant, in August 2025, the number of active addresses reached 938,609. As of the end of March 2026, this figure dropped to 655,908. The seven-day moving average of active addresses fell from 777,283 to 612,972, which corresponds to a 21% decrease, while the thirty-day moving average decreased by 14.4% - from 743,714 to 636,314.

Analysts note that this decline is not due to short-term volatility, but rather to a continued cooling of user participation in the network. Retail investors who bought the asset on the wave of excitement have mostly exited the market, and the main participants in the network are long-term owners.

The analyst, who goes by the pseudonym Gaah, noted that the low-volatility environment with weak speculative activity creates favorable conditions for smart money and institutional investors: they can quietly accumulate significant positions without abnormal price fluctuations. According to him, historically low values of the active addresses indicator often coincide with the most profitable areas of long-term accumulation.

In parallel with the drop in activity, the price of bitcoin has also dropped significantly: while in August 2025 it was around $ 116,690, by the end of March 2026 it had fallen to around $ 68,310. Researchers point to a strong correlation between the number of active addresses and price dynamics: an increase in activity traditionally accompanies a price increase, and vice versa.

Analysts also point out that the growing presence of institutional investors and bitcoin ETFs complicates comparative analysis: large custodial accounts can move significant amounts between a small number of addresses, masking the real level of retail activity.