Bitcoin network activity spikes to a 6-month high; Is $100,000 next?
Summary ⚈ Bitcoin network activity has hit a six-month high with over 925,000 active addresses, indicating rising investor interest ⚈ Price is consolidating around $95,000 with potential breakout toward $100,000 ⚈ Market remains bullish with strong technicals and sentiment, though RSI signals slightly overbought conditions Bitcoin’s (BTC) network activity has reached a six-month high, a trend likely to support the asset’s ongoing push toward a six-figure valuation. Specifically, Bitcoin recorded 925,914 unique active addresses within 24 hours as of May 3, according to on-chain data shared by cryptocurrency analytics platform Glassnode. The data indicates that BTC price has steadily climbed from mid-April lows, closely tracking the rise in network participation. Bitcoin number of active addresses chart. Source: Glassnode Notably, the surging activity reflects heightened investor engagement and speculation that Bitcoin may be gearing up for a sig...