CandleFocus As Bitcoin Tops $66K, Fear & Greed Index Moves To Neutral—What’s Next?
2024-10-16
Author: Content Editor
The number of active Bitcoin addresses remains stable and unaffected by changes in market sentiment, indicating a strong adoption and usage of the cryptocurrency. Despite recent price volatility, the count of active addresses has remained steady, suggesting that core users continue to use Bitcoin for transactions and holdings. However, the recent decline in active addresses and the post-halving period suggest a potential slowdown in the number of Bitcoin users. Nevertheless, analysts believe that the consistent network activity indicates a favorable long-term prognosis for Bitcoin. The Bitcoin fear and greed index is currently at a neutral level, signaling a market in equilibrium and investors adopting a wait-and-see strategy. Overall, the stability of active addresses demonstrates the robustness and real-world benefit of Bitcoin.
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