Bitcoin active addresses have surged to 0.98 million per day, a spike reflecting security concerns rather than renewed investor demand, notably after a firmware exploit affecting Coldcard users prompted fund migrations. Several early Bitcoin holders have moved significant amounts: one transferred 49.97 BTC after 15 years of inactivity with gains exceeding 634,000%, while another moved 50 BTC after ten months of dormancy, possibly preparing for an OTC sale. Despite this heightened on-chain activity, Bitcoin’s price remained stable around $64,000 with a market capitalization of $1.29 trillion, down 25.98% year-to-date. According to Joao Wedson, analyst at Alphractal, Bitcoin’s historical cycle patterns suggest at least two more months could pass before a potential market bottom.
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