[Analyst: Bitcoin Daily Active Addresses Drop to 2018-2019 Levels] Cryptoquant analyst chesscryptoonchain stated that Bitcoin's daily active addresses have fallen back to levels seen during the 2018-2019 period. Based on the 30-day moving average, the figure was 609,688 on July 19, 2026, compared to 570,71 in July 2018. Based on the 100-day moving average, the figure was 621,957 on July 27, 2026, compared to 605,433 in January 2019. From a historical comparison, similar lows were observed near the bottom of the previous market cycle, which may suggest that the market is forming a bottom. However, the analyst emphasized that this is just one potential signal of a bottom and should be combined with other indicators, as it is not advisable to use it as the sole basis for entry.