Bitcoin network activity has decreased to minimal levels not seen since 2018. According to analysts, this is due to a reduction in speculative trading and the dominance of long-term investors.
This is reported by Finway
Decrease in Active Addresses and Market Dynamics
Since the beginning of 2026, the number of active addresses on the Bitcoin blockchain has dropped to levels not recorded in over eight years. According to CryptoQuant, this decline is a result of low volatility and a decrease in speculative interest. This has led to a market primarily occupied by participants who adhere to a long-term accumulation strategy.
Analysts note that the decrease in activity is primarily related to the absence of short-term players, who typically enter during market frenzies and exit during corrections. Currently, long-term holders dominate the market, focusing on gradual accumulation of the digital asset.
“Historically, similar periods of ‘silence’ in on-chain metrics have coincided with phases of base formation for subsequent growth. CryptoQuant emphasized that the decrease in activity may indicate a gradual absorption of liquid supply.”
Geopolitical Influence and Market Reaction
Amid the on-chain lull, the cryptocurrency market reacted to significant geopolitical news. According to Santiment, the USA, Iran, and Israel reached an agreement for a two-week ceasefire and expressed their intention to continue the negotiation process. Against this backdrop, the price of Bitcoin exceeded the $72,000 mark, while Ethereum rose above $2,200, marking the highest level in recent weeks.
Analysts also noted an increase in discussions related to the cessation of conflict on social media. The share of such discussions accounted for over 1% of all cryptocurrency topics, a milestone that has only been recorded twice since late February.
Experts believe that optimism in the cryptocurrency community is growing, and further progress in negotiations could serve as an additional stimulus for the market. At the same time, CryptoQuant previously highlighted that an increase in the proportion of long-term investors in Bitcoin could potentially lead to a significant price surge.