Bitcoin Network Activity Slows While Price Lingers Near Highs

Once institutional investors are finally onboard has long been a rallying cry for Bitcoin enthusiasts projecting sky-high price forecasts.

A recent analysis of network activity on the original blockchain suggests they’ve already arrived. Even with prices just below record highs, there has been a decline in transactions and a rise in settlement value, indicating that institutional or high-net-worth participants are becoming more dominant, analysts at Glassnode wrote in a report Friday.