The ratio of active Bitcoin addresses has fallen to its lowest level since November 2010, based on onchain data from IntoTheBlock. In June, the weekly active wallet ratio hit a low of 1.22%, peaking at 1.32%. This highest ratio was last seen in November 2010. Moreover, the total number of active wallets has also reached multi-year lows. The week of May 27 recorded 614,770 active wallets, the lowest since December 2018. A declining active address ratio signifies a reduction in buying and selling activity among Bitcoin holders, suggesting a phase of market consolidation. Juan Pellicer, a senior researcher at IntoTheBlock,