The number of active addresses in the Bitcoin network has dropped to its lowest level in eight years since the beginning of 2026, indicating a significant decrease in speculative activity among cryptocurrency users.
This is reported by Business • Media
- The number of active Bitcoin addresses has fallen to levels last seen in 2018.
- Analysts attribute this phenomenon to a decrease in short-term investors and an increase in the role of long-term holders.
- The market is primarily populated by investors focused on long-term asset retention.
Market Dynamics: Trend Analysis
Experts indicate that the current period is characterized by low volatility and a lack of active speculation. According to their assessment, this situation facilitates the accumulation of Bitcoin by large players without significant price fluctuations. The market is dominated by long-term investors who do not react to short-term market fluctuations and focus on gradually increasing their positions. Analysts emphasize that the outflow of short-term holders (STH) indicates a change in user behavior within the network — instead of quick speculation, a strategy of accumulation prevails.
“The decline in activity reflects the absence of short-term investors, who typically enter the market during periods of hype and exit during corrections, while primarily long-term holders focused on accumulating the asset remain in the network.”
Historically, such periods of declining on-chain metrics have coincided with phases of building a base for new growth. CryptoQuant believes that the current low activity may signal a gradual absorption of Bitcoin’s liquid supply.
The Impact of Geopolitics and Market Reaction
Recent geopolitical events have also influenced market sentiment. According to the analytical platform Santiment, after an agreement was reached for a two-week ceasefire between the U.S., Iran, and Israel, along with statements of readiness for further negotiations, the price of Bitcoin surpassed $72,000. Ethereum also rose, breaking the $2,200 mark — its highest levels in recent weeks.
Santiment analysts noted a resurgence of discussions about ending the conflict on social media; this topic has accounted for over 1% of all cryptocurrency discussions for the first time since late February. Such interest may indicate a rise in optimistic expectations among market participants. The company anticipates that further progress in the negotiation process could serve as an additional catalyst for the growth of cryptocurrency asset values.
Previously, experts also emphasized that the increasing share of long-term investors in Bitcoin could herald a new price surge.