📊 $BTC On-Chain Active Addresses vs Price

Data from Glassnode shows one important thing:
When the price $BTC rises, the number of Active Addresses also tends to increase.
What does that mean? Network participation is growing.
But now there's an interesting development:
The price $BTC is still relatively high,
Active Addresses are starting to weaken compared to the peak.
This could indicate:
1. Retail activity has not fully returned
2. Price increases are driven more by large liquidity/institutions
3. Potential distribution phase if activity does not increase accordingly
In the previous cycle, a significant spike in Active Addresses usually appeared during the retail euphoria phase.