Bitcoin Active Addresses Surge to 6-Month Peak – $100K Target Now in Play?

Network activity just flashed its most bullish signal since November 2024 as Bitcoin active addresses smash through resistance levels. Retail and institutional wallets are waking up—but is this the fuel needed for a nine-figure price tag?

Key drivers: Spot ETF inflows keep stacking, miners halt sell-offs, and that looming supply shock everyone pretends to understand. Meanwhile, Wall Street still can’t decide if crypto is ’digital gold’ or a ’speculative asset’—classic hedge fund doublespeak.

The real question: Does this metric actually predict price, or are we all just chasing hopium? Either way, buckle up—when Bitcoin’s network gears start turning this fast, things get volatile. And by volatile, we mean your portfolio either moons or gets rekt. No pressure.

Source: Glassnode

This price-action behavior reflects a bearish divergence between on-chain activity and price movement. 

Further investigation by AMBCrypto revealed that on the same day the active address count surged, approximately 5,000 BTC (worth around $484 million) flowed into derivative exchanges.

Consequently, this signaled speculative positioning rather than genuine spot BTC demand. So, instead of long-term holders stacking up, the market could be seeing leverage-driven selling, which likely caused the price dip.

Is Bitcoin running out of FOMO as active addresses plunge?

The last time Bitcoin experienced genuine spot demand was on the 29th of April, when net outflows across all exchanges spiked while BTC was priced at $94,280. 

Since then, although the price has reclaimed key resistance levels, net flows have remained largely flat. Looks like retail’s taking a step back – Could this be a sign of bullish fatigue?

Source: CryptoQuant

Compounding this, Bitcoin’s active addresses sharply declined from a six-month peak on the 2nd of May to a two-week low of 618k the day after. 

This drop reflected a clear hesitation among traders to engage in spot buying NEAR the $97k level. Hence, signaling waning participation and reluctance to accumulate BTC at elevated valuations. 

In this context, the $100k target appears increasingly speculative.