According to CoinWorld, Bitcoin network activity has fallen to its lowest level in seven years, with market confidence impacted by selling pressure and reduced on-chain activity. Data from Bitcoin Magazine shows that the 60-day moving average of active Bitcoin addresses was slightly above 600,000 on June 4th, approaching levels seen during the 2019 bear market. The decline in active addresses has continued since the end of the 2021 bull market, despite Bitcoin becoming more accessible through compliant investment products. Bitcoin network utilization has fallen to its lowest level in seven years, matching the lows of the 2019 bear market. Low readings of active addresses typically coincide with periods of low market interest. Bitcoin was trading near $63,950 at the time of the report, down more than 26% since the beginning of the year.