Bitcoin on-chain usage rises as price recovers, Mark Moss notes

Mark Moss notes that while Bitcoin's price remains in recovery mode and much of the recent inflow originates from ETFs operating off chain, on-chain data indicates that network and block space usage is increasing rapidly, even in the absence of a major upward price move.

His observation highlights that Bitcoin network fundamentals can strengthen independently from price jumps, driven by increased on-chain activity.

Moss previously stated that bitcoin's fixed supply allows for simpler price predictions, with demand as the main variable affecting future value, as noted in his analysis on valuation. He has also described Bitcoin as a neutral reserve asset for global settlement, citing its potential role in geopolitical and technological developments in a separate commentary. These earlier perspectives inform his current focus on on-chain fundamentals over near-term price movement.

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