Analysts: Bitcoin’s active address count has dropped 43% from its December 2024 peak, while daily transaction volume remains above 810,000 BTC.

Bitcoin's 30-day average of active addresses fell to 629,000 as of November 1, down 43% from the December 2024 peak of 1.1 million and roughly 10% below the annual average of 702,000, according to on-chain analyst Axel Adler Jr. Despite the drop in addresses, the 30-day average daily transfer volume stands at 819,000 BTC, down only 5.4% from December 2024 and about 5.5% above the annual average, indicating on-chain settlement activity has not contracted in line with user counts. Adler noted the current address decline has stretched nearly two years at a relatively slow pace, compared with a 50% drop over three months in the comparable 2018 period. The divergence suggests fewer users are transacting larger amounts, though recent readings show both metrics pulling back and no sustained recovery in network activity yet. Watch whether transfer volume holds above its annual average as a signal of large-holder behavior, and whether active addresses stabilize or extend their multi-year downtrend.