The Bitcoin ($BTC) network utilization has dropped to its lowest level in more than seven years amid renewed selling pressure.
As of June 4, the 60-day Moving Average for Bitcoin active addresses hovered slightly above 600,000, according to data from Bitcoin Magazine Pro analyzed by Finbold. Bitcoin’s utilization has been declining gradually since the end of the 2021 bull rally, thereby retesting the level it reached during the 2019 bear market.
Bitcoin network activity has fallen over the past few years, driven by its maturation and rising competition from other layer-one (L1) networks. Furthermore, $BTC utilization declined significantly after the approval of spot exchange-traded funds (ETFs), as more investors opted for traditional instruments due to greater liquidity and regulatory requirements.
Additionally, the approval of the Genius Act – a U.S. law establishing federal rules for stablecoin issuers – signed into law in July 2025, further reduced $BTC network utilization. Moreover, more institutional investors have launched stablecoins on other chains, including Ethereum (ETH), Solana (SOL), and Tron (TRX), to facilitate fast, frequent global payments.
What’s next for Bitcoin price amid declining utilization
The notable decline in Bitcoin’s active addresses over the years has further weighed on bullish sentiment. Further, the flagship coin has dropped by more than 26% year-to-date (YTD), trading at around $63,950 at the time of reporting.
With $BTC price retesting its February 2026 support level, as Finbold explained, a potential rebound in its network activity could trigger its bull rally. However, amid ongoing capital flight to artificial intelligence (AI)-related stocks, the $BTC network could see further declines in activity, putting the flagship coin under additional selling pressure over the coming months.