Data from Glassnode shows that the number of Bitcoin active addresses has dropped by around 60% over the previous six weeks, becoming 758.000 from 1.3 M. This is the lowest indicator since April 2020.
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Daily transaction volume is also down. It fell below 300.000 for the first time since March 2020. This shows that the demand for the coin is lower and that reflects the decline of the rate. JPMorgan's later report states that in the Q2 of 2021, institutional investors began to withdraw their Bitcoin holdings in large sums.
Currently, BTC trades at around $33.300. That is around 48% down from its all-time high of $64.800, reached in April 2021. BTC's market dominance is around 45.7%.
Meanwhile, the number of Ethereum's active addresses has increased by 9.2% over the previous week. The largest altcoin trades at over $2070.