Bitcoin User Activity Plunges Despite New ATH, Correction Risk Looms

Bitcoin’s ($BTC) latest price rally has pushed price levels to significant highs, while the user activity is presenting a different scenario. Hence, the active $BTC addresses have dropped in terms of numbers to the low levels not witnessed since 2020’s April. Currently, there are 829,749 active addresses, the number was over 10 million in May 2025. As per the data from CryptoOnchain, a famous crypto analytics provider, the divergence between the user activity and the price of Bitcoin highlights the risks of a correction. Nonetheless, whether this actually takes place or not is yet to be seen.

Bitcoin Active Addresses Drop to 2020 Levels

Bitcoin’s active addresses and price’s comparative analysis discloses a sheer disconnect in line with the latest market data. Thus, while $BTC is attaining new heights, such as the new ATH of $125,559, the active addresses are dipping in terms of numbers. This denotes the bottom level of the consumer activity since April 2020. Such a divergence suggests that fewer new clients are transferring on-chain, increasing the apprehensions regarding sustainability of the current bull rally of Bitcoin ($BTC).

Ongoing Rally Lacks Adequate User Support

According to CryptoOnchain, the growing divergence between the $BTC price and active addresses displays a warning sign. Keeping this in view, with fewer active Bitcoin wallets taking part in the network, the price rally may be deficient in the foundational backing of real consumer demand. Overall, this imbalance could pave the way for potential sudden corrections in the case of sentiment shifts or liquidation of leveraged positions.