Bitcoin has surpassed $80,000 in three months, but concerns are being raised that a downtrend could resume due to insufficient on-chain activity, CryptoPotato reported. On-chain analytics firm Santiment analyzed, "Unlike the BTC rally, network usage is remarkably low. The number of daily active transaction addresses is 531,000, and new addresses are 203,000, both at a two-year low. This is in contrast to past price rallies where new inflows surged, supporting the rally. It suggests that the current price increase is led by a few rather than being widespread." On the other hand, cryptocurrency analyst Ali Martinez projected, "Since the weekly MACD golden cross occurred on the 13th, there has been an approximately 15% increase, and further upside is likely. If BTC breaks past the 200-day moving average near $83,000, it will rise even further."
