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💸Good day, the Bitcoin Network Activity Index and Bitcoin Network Activity Trend provided by CryptoQuant and shows the relationship between Bitcoin network activity and Bitcoin price, which shows that network activity has decreased sharply and is in the red zone

⭕This situation is similar to previous bearish periods such as 2018 and 2022, when the Bitcoin price also entered a correction phase in that year

⭕As a result, an increase in network activity is usually accompanied by an upward trend in Bitcoin, and a decrease in network activity can indicate weakness in the market and the possibility of a price correction, which the current state of the network is similar to previous bearish periods, which could indicate a further price decrease or entering a price consolidation phase in the medium term and
To confirm the upward trend, network activity must enter the green zone again