Odaily News Glassnode data shows that Bitcoin's active addresses have fluctuated significantly recently. After the April 2024 halving, the number of active addresses dropped significantly due to soaring transaction fees and network congestion. This increase in fees, partly due to the emergence of new protocols such as Runes, has affected Bitcoin's utility in daily transactions, resulting in a significant drop in network activity. Historically, active addresses have been a reliable indicator of market stages. For example, data from 2022 showed that active addresses stagnated, consistent with the typical bear market pattern observed in past cycles. Bitcoin's market forces are cyclical, and there is usually a period of reduced activity, followed by renewed activity as market conditions improve. However, it is worth noting that although the current number of active addresses has dropped to a low point since 2019, Bitcoin is back near its all-time high. (CryptoSlate)