Bitcoin (Bitcoin) Network usage fell to its lowest level in more than seven years amid renewed selling pressure.
As of June 4, the 60-day moving average of active Bitcoin addresses was just above 600,000, according to Data from Bitcoin Pro Magazine Analyzed by Feinbold. Bitcoin usage has been gradually declining since the end of the 2021 bull run, thus retesting the level it reached during the 2019 bear market.
Bitcoin network activity has declined over the past few years, driven by its maturity and increasing competition from other Layer 1 (L1) networks. Furthermore, the use of Bitcoin declined significantly after the approval of spot exchange-traded funds (ETFs), as more investors chose traditional instruments due to increased liquidity and regulatory requirements.
Additionally, the approval of the Genius Act – a US law that sets federal rules for stablecoin issuers – was signed into law in July 2025, further reducing the use of the BTC network. Furthermore, more institutional investors have launched stablecoins on other chains, including Ethereum (Ethereum), Solana (SolAnd you seeTRX), to facilitate fast and recurring global payments.
What’s next for Bitcoin price amid declining usage
A notable decline in active Bitcoin addresses over the years has weighed on bullish sentiment. Furthermore, the major coin is down more than 26% year-to-date, trading at around $63,950 at the time of reporting.
With BTC price retesting its support level in February 2026, like Finbold He explaineda potential rebound in its network activity could lead to its bullish rally. However, amid ongoing capital flight into artificial intelligence (AI)-related stocks, the BTC network could see a further decline in activity, putting the flagship coin under additional selling pressure over the coming months.
