Bitcoin network usage has dropped to its lowest level in over 7 years. Data shows that as of June 4, the 60-day moving average of active Bitcoin addresses is slightly above 600,000, nearing levels seen during the 2019 bear market. The article suggests that spot Bitcoin ETFs have reduced the need for some investors to make direct on-chain transfers, while networks like Ethereum, Solana, and Tron are taking on more stablecoin payment and settlement activities, diverting some of Bitcoin's on-chain activity. (Bitcoin Magazine Pro) https://(wublock123.com)/news/bitcoin-active-addresses-60-day-average-over-600k-near-2019-bear-level-62302