On-chain is as cold as winter 2019, but the price is still holding at $60k. I know this script well.

CoinWorld News: Bitcoin network activity has dropped to its lowest level in seven years, with market confidence affected by selling pressure and reduced on-chain activity. According to Bitcoin Magazine, the 60-day moving average of active Bitcoin addresses on June 4th was slightly above 600,000, close to the levels seen during the 2019 bear market. The decline in active addresses has persisted since the end of the 2021 bull run, despite Bitcoin becoming more accessible through compliant investment products. Bitcoin network utilization has fallen to its lowest level in seven years, matching the lows of the 2019 bear market. Low readings of active addresses are typically associated with periods of low market interest. At the time of reporting, Bitcoin was trading near $63,950, down over 26% since the beginning of the year.