Bitcoin just flirted with the $94,000 club again, and you’d think this would mean a party with confetti and real users. Spoiler alert: it’s more like a digital retirement home with tumbleweeds and zero friends. According to a crypto whisperer, the Bitcoin network is “like a ghost town” – and no, it’s not because everyone’s on vacation.
Bitcoin’s Price is Doing Yoga While the Network Just Naps
CryptoQuant’s Maartunn dropped the mic recently, revealing a major gap between Bitcoin’s soaring price and the actual people doing stuff on the network. Translation: Bitcoin’s price is doing the cha-cha, but nobody’s dancing on the blockchain floor.
Looking at a 365-day moving average since 2015, the network activity and price used to be like those couple goals where everything syncs perfectly. But come early 2025, they ghosted each other. Prices kept climbing like an overambitious cat up a tree, while network activity took a nap and started to drop.
The Bitcoin Network is a ghost-town 👻
This pump is fueled by:
- ETF Flows
- Open Interest
Actual on-chain demand? Practically a ghost story.
— Maartunn (@JA_Maartun) April 24, 2025
ETF Money is Basically the Overprotective Parent Here
The real MVP behind Bitcoin’s glow-up? Institutional cash, aka those big financial players who treat Bitcoin ETFs like they’re designer shoes on sale. From April 17 to 23, ETF inflows jumped from $381 million to a whopping $917 million. Someone’s definitely buying the dip—or at least buying a lot of dips wrapped in ETFs.
Since US Bitcoin ETFs showed up, nearly $38 billion has poured in, proving that Wall Street still loves playing with its big toys while regular users watch from the sidelines with popcorn.
The Average Joe? MIA on the Blockchain Dance Floor
On-chain data says last week’s active addresses dipped by 1.5%, while zero-balance wallets fell 12.5%, which sounds like a fancy way of saying “wallets got emptier and people stopped logging in.” Network activity down 0.9% doesn’t exactly scream “thriving ecosystem.” More like a subtle yawn.
The Trump Meme Coin Came to Dinner and Stealed the Show 🍽️
Just when you thought Bitcoin was stealing all the spotlight, enter the Trump meme coin with a dinner invite as the ultimate FOMO button. Yes, the holders of these coins were promised a meal with the ex-president’s staff, sparking an unexpected buying frenzy because nothing says “investment” like a chance to chow down with political drama.
Once the dinner invite excitement cooled off, interest in both TRUMP coin and Bitcoin faded faster than your New Year’s resolutions. Apparently, the market can’t handle too many drama queens at once.
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2025-04-25 20:32