Bitcoin active addresses ‘concern’ analyst despite 50% BTC price gains

Bitcoin (BTC) still lacks the on-chain volume and active address increases which characterize bull markets, research warns. In a frank appraisal of the 2023 BTC price rebound, on-chain analytics platform CryptoQuant warned that Bitcoin may be weaker than it seems. Active addresses not copying bull market paradigm As on-chain metrics flip green and some even flash bull signals not seen in years, a healthy dose of suspicion remains among many analysts. CryptoQuant contributor Yonsei_dent is among them, writing in one of the platform’s Quicktake blog posts this week that 2023…