Bitcoin's Price Is Rising, On-Chain Activity Isn't

Bitcoin On-Chain Activity Report, September 2024

Bitcoin is getting a boost from rate cuts and expectations of global liquidity returning. That's for the price action, at least. But is this rally actually supported on-chain? Let's explore.

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Bitcoin's Price Is Rising, On-Chain Activity Isn't

The Takeaway

Bitcoin's price is rallying, but on-chain activity lags behind. This disconnect hints at a potentially fragile uptrend. 

While market sentiment improves, the lack of on-chain support suggests caution. Investors should watch for alignment between price and on-chain metrics as a signal of a more sustainable rally.

Bitcoin Is Asleep On-Chain