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Active Wallets crossed 750K daily, showing Bitcoin is being used actively, not just held
Old Wallet Activity spiked as 20,000 BTC moved from a 14-year-old dormant address on July 15
Hashrate dropped to 822M TH/s on July 16 due to heatwaves, but still 42% higher than last year
Bitcoin price crossed $120,000 in July 2025, marking its highest level ever. The crypto market’s top player is once again in the spotlight.This rise came after large investments from institutions and ETF inflows. Many people are buying, selling, or watching from the sidelines. But just looking at the price isn't enough.
Some free tools and on-chain metrics can help track what’s really happening in the Bitcoin ecosystem. These indicators are simple, insightful, and can be accessed online without cost.
When more people use Bitcoin, more wallets become active. These are addresses that are sending or receiving Bitcoin. Recently, there have been about 750,000 active addresses daily. This shows that the network is busy and people are using Bitcoin, not just holding it. If this number starts falling, it can mean that fewer people are interested or using it.
New wallets are also important. When many new ones are created, it usually means new users are entering the market. Sites like Glassnode and CoinMetrics show these numbers for free.
Also Read: Bitcoin Outperforms Stocks on Key Risk Metric: What It Means for Investors
Some wallets hold huge amounts of Bitcoin. These are known as whale wallets. When these wallets send coins to exchanges, it can be a sign that they might sell. When they move coins out of exchanges into private wallets, it shows that they are not planning to sell anytime soon.
On July 15, around 63,000 Bitcoin were moved to exchanges. That was a jump of about 3 percent compared to the previous day. This kind of movement can affect the market because it means there could be more selling soon. Platforms like CryptoQuant and IntoTheBlock give updates about these transfers.
Miners are the ones who keep the Bitcoin network running. They get rewarded in Bitcoin and sometimes sell it to manage their costs. If many miners start selling, it can affect the price. If miner wallets stay quiet, it shows that they are confident and not in a hurry to sell.
Hashrate is another number that matters. It shows how strong and secure the Bitcoin network is. A high hashrate means that miners are using more computing power. On July 16, the hashrate dropped to around 822 million terahashes per second, down from over a billion just one day before. The reason for the drop was likely the heatwaves in some countries where miners had to shut down. Even with the drop, the hashrate is still 42 percent higher than last year.
This ratio compares how much Bitcoin is worth to how much it is being used in real transactions. If the number is too high, it could mean the price is too far ahead of actual usage. If it is low, it shows that the coin is being used more in the real world. This can give a clearer idea of how strong the network activity is compared to its market value. Glassnode and CoinMetrics display this ratio in graphs that are easy to read.
Some wallets hold Bitcoin for years without any movement. These are called dormant wallets. When old coins from such wallets suddenly move, it gets noticed. On July 15, a wallet holding coins for over 14 years moved 20,000 Bitcoin. This can mean the owner is planning to sell or shift the coins to another wallet.
There is also a tool called Coin Days Destroyed. It tracks how long coins were untouched before they were moved. A big jump in this number often shows that old holders are making moves. This can affect market prices if large amounts are sold at once.
Also Read: Bitcoin Price Holds Strong at $119K After $1B Short Squeeze
Bitcoin is moving fast in 2025. The price is high, and many things are happening at once. But looking only at price does not give the full picture. These five free metrics show what is really happening behind the scenes.
Watching wallet activity, whale moves, miner actions, the NVT ratio, and old coin movements can help understand the market better. All of this information is available online and does not cost anything to check. This can help make better choices when dealing with Bitcoin.
