Bitcoin: Network Activity Rises as Price Falls

Bitcoin network activity is climbing even as BTC trades nearly 50% below its peak price, according to CryptoQuant.

Price action on the 4h chart shows BTC at $64102.89 sitting just below the EMA50 at $64152.25, a key short-term support level inside the Bollinger Bands with upper resistance at $65404.74. The MACD golden cross at -312.2 signals building bullish momentum, yet the broader structure remains bearish with price well under the EMA200 at $68672.79 and RSI neutral at 51.92, suggesting any bounce may stall before testing higher volatility bands.