On-chain Data Trends

The On-chain data chart shows a bizarre trend whereby entities' net growth is still rising despite the Bitcoin price dropping from its all-time high of $65k.  The current data is even higher than the 2017 net growth before the price of Bitcoin came crashing down after a high of 25k. As expected, the net growth went down, but this is not the case for Bitcoin at the moment. What is Causing the Weird Movement? Net growth of entities is defined…