[Data: As BTC Returns Above $80,000, On-Chain Activity Drops to a 2-Year Low] According to data from Santiment Intelligence, Bitcoin's on-chain activity has dropped to a two-year low, with an average of approximately 531,000 active wallets and 203,000 new wallets daily. This data stands in stark contrast to Bitcoin breaking above $80,000 (for the first time in three months). Santiment noted that typically, price increases should attract more users and on-chain activity. However, the current price surge is being driven by smaller-scale participants rather than a broad influx of new and returning users. Price increases unsupported by on-chain participation are often fragile, as there may be insufficient new demand to absorb sell-offs when large holders take profits. Historically, a bottom in network activity often signals the end of a cooling-off period. Once retail interest returns, prices could have greater upward potential.