Bitcoin price and active wallet count does not correlate anymore

In the last bull run it was still correlated. People are onboarding like crazy, that’s why we see the price still over $80k, right? Google Trend shows us that although in the last run Bitcoin trended like 1.5x more than now, there is an exceptional interest in the coin. In line with the chart, we heard a lot about mass adoption as well, it’s always right around the corner, right? Well no, but let me step back for a second to assemble the big picture.

The key to the creation of Bitcoin was trust. Trust in a system instead of an institution. Automating trust in online transactions. Now it's just a "store of value".

More in the article.