Bitcoin on-chain activity remains weak, with CryptoQuant's Network Activity Index (NAI) still trending downward and below its 365-day moving average, indicating that blockchain usage demand remains subdued. Although Bitcoin hit a record high earlier this year, since the end of 2025, the index has been in a bearish "red zone," mirroring the trend seen in the latter half of the 2021 bull market. Meanwhile, Glassnode's cumulative trend score shows that investors across all age groups have recently been more inclined to distribute rather than accumulate. Currently, Bitcoin is trading at approximately $70,900.

BTC-2.83%

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