Bitcoin $61K Standstill: Social Activity Dips Amidst Steady Price, Yet Network Engagement Persists”

Recent data reveals a decline in Bitcoin social activity, hitting its lowest level this year, yet maintaining a strong presence in crypto discussions. Despite a dip in social engagement, Bitcoin network remains active, indicating sustained participation.

According to LunarCrush, social activity surrounding Bitcoin dropped to approximately 98 million, approaching a critical threshold. This decrease could be linked to Bitcoin recent struggle to maintain the $61,000 price range.

On Santiment, Bitcoin Social Dominance remains steady around 26%, with a slight uptick from 26.21% to 26.42%. Social Volume on May 8th stood at 4,622, reflecting continued discussion despite the decline.

AMBCrypto analysis of Bitcoin 24-hour active addresses chart shows a recent decline compared to previous months. However, with around 721,000 active addresses, Bitcoin network activity remains substantial.

At the time of writing, Bitcoin trades at approximately $61,550, marking a 0.7% daily increase. This positive movement contrasts recent declines, indicating buyer dominance. The uptrend may attract more traders, potentially influencing market dynamics.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)