Bitcoin active addresses have been plummeting ever since the Bitcoin ETFs launched in January 2024. The irony is obvious. Maxis spent years begging Wall Street to jump in, hoping it would spark mass adoption. What actually happened: retail lost interest, Bitcoiners piled into the ETFs for the early FOMO bump, and then bailed. And the kicker is that ETFs kill the core premise of Bitcoin. You don’t own the asset. Banks hold and control it. That’s the exact system Bitcoin was supposedly built to reject, but greed always beats ideology.