Bitcoin’s On-Chain Activity Declines: A Sign of Losing Momentum?
Bitcoin's on-chain activity has fallen below its 365-day moving average for much of 2025, indicating a potential slowdown in network usage. The Network Activity Index, which monitors transaction counts, active addresses, and transfer volumes, has shown a consistent downward trend this year. This contrasts sharply with the 2023-24 period, when rising on-chain activity often preceded organic price increases. The current decline raises questions about whether Bitcoin's momentum is waning. As of November 8, 2025, market participants are closely watching these metrics for clues about future price movements and network health.
Bitcoin On-Chain Activity Slumps Below 365-Day Average – Is Momentum Losing Steam?
Bitcoin's on-chain activity has dipped below its 365-day moving average for most of 2025, signaling a structural slowdown in network usage. The Network Activity Index, which tracks transaction counts, active addresses, and transfer volumes, has consistently trended downward this year. This marks a stark contrast to 2023-24, when surging on-chain activity preceded organic price expansion.
The current decline suggests liquidity is circulating off-chain while on-chain engagement dwindles. Despite this, Bitcoin's price has remained resilient, trading between $100,000 and $120,000. The flash crash on October 9, which briefly sent BTC to $102,000, appears to have accelerated the trend of weakening network fundamentals.
Farage Bets Big on Bitcoin — Will Britain Follow Trump’s Crypto Playbook?
Reform UK leader Nigel Farage has unveiled ambitious plans to position Britain as a crypto-friendly nation, mirroring strategies employed by Donald Trump during his 2024 campaign. The populist politician's Cryptoassets and Digital Finance Bill proposes creating a state-backed Bitcoin reserve funded by £5 billion in seized criminal assets, while slashing capital-gains taxes on crypto to 10%.
Farage's vision directly challenges the Bank of England's cautious stance, with the Reform leader dismissing proposed stablecoin limits as "frankly ridiculous" and vowing to block any central bank digital currency rollout. "The UK's financial services have become stagnant," Farage declared during his London speech. "I want London to be a great trading center again — including crypto."
The policy platform has drawn immediate interest from crypto industry participants, though Reform UK's current five-seat parliamentary presence remains limited. The proposal marks the first concrete attempt by a British political leader to capitalize on growing institutional crypto adoption trends, following similar moves by US politicians courting digital asset voters.
Binance Stablecoin Reserves Hit $42B Amid Market Recovery Signals
Binance's ERC-20 stablecoin supply has surged to a record $42 billion, signaling a stealthy resurgence of liquidity after Bitcoin's violent plunge to $103,000 triggered widespread liquidations. The rebound in stablecoin reserves—often a precursor to renewed buying pressure—suggests investors are positioning for re-entry rather than retreat.
Analyst Darkfost notes the growth is concentrated on Binance, reinforcing its dominance as the liquidity hub of crypto markets. Historical patterns suggest such accumulation phases typically precede major price movements, with stablecoins acting as dry powder for the next leg up.
Kenya Passes Crypto Regulation Bill to Attract Bitcoin Investment
Kenya's parliament has approved the Virtual Asset Service Providers Bill, marking a pivotal step toward formalizing cryptocurrency oversight. The legislation assigns regulatory roles to the Central Bank of Kenya and the Capital Markets Authority, with a clear focus on stablecoins and digital asset markets.
The move signals Kenya's intent to position itself as a hub for blockchain innovation while mitigating risks. By establishing guardrails for exchanges and custodians, the bill aims to unlock institutional capital flows into bitcoin and other digital assets.
