Decline in active Bitcoin addresses since 2024 ETF launches indicates institutional shift

Twenty One Capital opened lower on its debut on the New York Stock Exchange (NYSE) as investors assessed its Bitcoin treasury model, which includes a significant holding of 43,500 BTC valued at approximately $4.5 billion. This debut follows a merger with Cantor Equity Partners and comes amidst concerns about potential sell-offs in the cryptocurrency market.

Dogecoin (DOGE) has stabilized above a key support level around $0.14, marking a period of consolidation as market participants assess technical indicators and adoption trends. Despite a muted response to its 12th anniversary, network activity has surged, with daily active addresses exceeding 67,000, reflecting increased engagement within the community.

The number of Bitcoin addresses holding over 0.1 BTC has not increased in the past two years, breaking a long-standing trend of growth that persisted through various market cycles. This stagnation suggests a shift in the engagement of smaller and mid-sized investors with Bitcoin, even as institutional interest in the cryptocurrency market continues to rise.

A prominent crypto investor has made headlines by selling all of his Bitcoin holdings, which he initially purchased at $3,000, to invest entirely in XRP. This decision comes amid a turbulent market where Bitcoin's price has dropped significantly, while XRP is also facing a downturn, with recent reports indicating a negative shift in social sentiment towards the token.

Standard Chartered and Bernstein have revised their Bitcoin price targets, with Standard Chartered lowering its forecast to $100,000 by year-end, while Bernstein maintains a long-term bullish outlook, predicting Bitcoin could reach $1 million by 2033. This adjustment comes amid recent declines in Bitcoin's price and ETF outflows, reflecting shifting institutional demand.

Bitcoin and Ethereum have shown positive price movements as traders anticipate an interest rate decision from the Federal Reserve, with Bitcoin recently trading above $94,000. This comes after a period of volatility where crypto prices generally react favorably to rate cuts, although the current market dynamics are complex.

Octra has announced a public token sale of $20 million on the Sonar platform, with a valuation set at $200 million. This initiative is part of Octra's strategy to enhance decentralization within the blockchain ecosystem and may set a precedent for future fundraising efforts in the cryptocurrency space.

A new Bitcoin ETF proposal named 'AfterDark' aims to capitalize on the observation that Bitcoin gains predominantly occur outside of regular U.S. trading hours. This fund would exclusively hold Bitcoin overnight, potentially offering investors a unique opportunity to benefit from after-hours price movements.