Bitcoin Network Activity Hits 6-Month High – Is Demand Back?

By: bitcoin ethereum news|2025/05/04 13:00:02
0
Share
copy
Bitcoin is trading just below the psychological $100K mark, facing a critical test as bulls attempt to sustain the recovery rally. After weeks of strong upside momentum, the market has now entered a decisive phase, where a breakout above $100K could trigger a wave of renewed buying interest and potentially mark the start of a new all-time high run. However, failure to reclaim this level may signal exhaustion, leading to another consolidation or even correction phase. Analysts remain divided on what’s next for Bitcoin. Some point to improving technical structure and strong demand zones as signs of a bullish continuation. Others argue that macroeconomic uncertainty, including persistent global tensions and shifting monetary policy, could cap further upside in the near term. On-chain data offers additional insight. According to Glassnode, 925,914 Bitcoin addresses were active in the past 24 hours. This uptick in engagement reflects rising interest and potential accumulation as the market anticipates its next move. Bitcoin Momentum Builds As Network Activity Spikes Bitcoin is positioning itself for what could be the start of a massive rally. After reclaiming the $90K level with strong momentum, bulls have managed to push price action near the key psychological resistance of $100K. Analysts are increasingly confident that a clean breakout above this level could ignite a sustained market-wide uptrend. The current technical setup suggests that Bitcoin is attempting to break free from the consolidation zone formed after the last all-time high, signaling a potential continuation of the broader bull cycle. Following months of heavy selling pressure and uncertainty, Bitcoin has shown remarkable resilience. Since bottoming out earlier in April, the price has surged over 15%, regaining investor confidence and bringing back bullish sentiment. The push above $90K marked a key shift in structure, and the market has since been watching for confirmation of a full reversal. Adding to the bullish case, on-chain metrics show surging network activity. Top analyst Ali Martinez highlighted that 925,914 Bitcoin addresses were active in the past 24 hours, the highest figure in the last six months. This uptick signals a strong increase in user participation, often associated with the early phases of a new bullish leg. If this activity persists and price breaks above resistance, Bitcoin could be set for a move into uncharted territory. However, risks still loom. Global trade tensions, monetary policy shifts, and geopolitical uncertainty continue to cloud the broader financial landscape. Any sharp shift in macro conditions could derail this momentum. Technical Details: Eyes On $100K Level The 4-hour chart for Bitcoin shows a steady uptrend, with BTC currently trading at $95,933 after briefly reaching highs near $97K. The price structure remains bullish above both the 200-period SMA ($87,335) and EMA ($89,812), which are now sloping upward, reinforcing the strength of the ongoing rally. This suggests that Bitcoin is maintaining healthy momentum after breaking out of its multi-week range below $90K in mid-April. Volume has slightly tapered off in recent sessions, which could indicate temporary exhaustion or a pause before the next major move. Bulls are in control as long as price holds above the $93K-$94K region, which has now flipped into support after being a resistance zone during the prior consolidation phase. The next major resistance is psychological and structural: $100K. A clean breakout above this mark could trigger a surge toward the $103,600 level, as marked on the chart. If bulls fail to push through soon, a short-term pullback toward the $92K region would not invalidate the bullish trend but would signal the need for more accumulation. Featured image from Dall-E, chart from TradingView Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers. Source: https://bitcoinist.com/bitcoin-network-activity-hits-6-month-high-is-demand-back/

You may also like

Stablecoins are the "royalists" of the crypto world: Open USD brings the old currency system into play

The emergence of Open USD has shifted the competition for stablecoins from the market struggle of crypto startups to a battle for infrastructure involving traditional finance, payment networks, technology platforms, and public chain ecosystems.

Semiconductor stocks plummet, yet Anthropic wants to create a 2nm chip

Abandoning TSMC and teaming up with Samsung. Anthropic launches a self-developed 2nm chip program, challenging Nvidia and starting a battle to break through computing power costs.

Where is Zhao Changpeng's billion-dollar investment going? YZi Labs' investment landscape fully revealed

Zhao Changpeng's billion-dollar new "family office" YZi Labs investment landscape revealed: 70% of the funds are committed to the crypto ecosystem, while 30% are cross-industry bets on AI and biotechnology, launching a new capital experiment in the post-Binance era.

Ethereum Foundation Report: A Basic Guide to Ethereum for Governments and Financial Institutions

The Ethereum Foundation has released this non-technical introductory report aimed at government officials, central banks, regulators, and corporate decision-makers, explaining how Ethereum works, how it is governed, how it differs from other blockchains, and how institutions and governments are alre...

A pre-announced harvesting case: After the cryptocurrency price dropped by 99%, the public chain Saga exited to transform into AI

True failure often isn't a single price drop, but rather a pricing mechanism that repeatedly rewards those who tell stories while repeatedly punishing those who believe in the stories.

When American giants collectively "defect" from Chinese AI models

Coinbase CEO publicly stated: the company has fully switched its AI to a Chinese model, cutting expenses in half while usage has doubled. Snowflake and Lindy are also doing the same thing—an unnoticed "AI model migration wave" is happening.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com