The illusion of Bitcoin’s decline arises as protocol-driven transaction collapse distorts on-chain valuation signals

Amidst fluctuating on-chain metrics, Bitcoin seems to be weaving a tale of mystery. Surface-level data paints a picture of waning activity, yet deeper analysis suggests a complex valuation paradox. With the RUNES protocol, once a major driver of network traffic, seeing its activity plummet, the narrative of Bitcoin's true worth has grown foggy. So how does this mesh with the reality institutional investors see, with a record $4.5 billion inflow to Coinbase? Discover the underlying truth behind these numbers...

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