A crucial Bitcoin activity metric is now reaching levels usually only observed after the asset’s price has already peaked, adding to the ongoing uncertainty around Bitcoin’s future price movements. The number of Bitcoin (BTC) active addresses — which represents the total number of active users on the network — has “declined significantly” since the beginning of 2024, a pattern that has historically formed after Bitcoin’s price peaked in the 2017 and 2021 bull cycles. CryptoQuant contributor “Avocado onchain” pointed out in a Sept. 3 research note that Bitcoin’s price hasn’t followed the typica…