Bitcoin Active Addresses Blast Past 800K – Is the Bull Market Gearing Up for Round Two?
Bitcoin’s network activity just hit a seismic milestone—over 800,000 active addresses in a single day. That’s the highest level since the 2021 frenzy, and traders are scrambling to decode what it means.
The On-Chain Signal Nobody’s Ignoring
When addresses spike like this, it usually means one thing: fresh money flooding in. Retail FOMO? Institutional accumulation? Either way, the blockchain doesn’t lie—this is demand in raw, unfiltered form.
Wall Street Analysts vs. Crypto Reality
Meanwhile, traditional finance pundits are still debating whether Bitcoin ’has intrinsic value.’ Spoiler: the market couldn’t care less about their spreadsheets.
So—are we staring down the barrel of another parabolic rally? Or is this just another fakeout before the next ’crypto winter’? Grab your charts and watch those order books. Things are about to get interesting.
Bitcoin Stalls Below $96K As On-Chain Activity Picks Up
Bitcoin is now trading at a critical inflection point, hovering just below the $96,000 resistance after a strong recovery last week. Bulls regained short-term control following a 12% surge, but that momentum appears to be fading without a clear breakout above $96K. To confirm a true euphoric phase and extend the rally, BTC must decisively breach the $100,000 level. Until then, price action remains rangebound and uncertain.
Despite the pause, Bitcoin is showing signs of resilience. Healthy retests of demand zones between $90K and $92K have held, reinforcing bullish sentiment—at least for now. If these levels continue to act as support, a push higher remains on the table.
However, macroeconomic headwinds persist. Geopolitical tensions, particularly the unresolved trade conflict between the US and China, along with concerns over a potential global recession, weigh heavily on risk assets. A negative macro surprise could derail Bitcoin’s upward trajectory quickly.
Still, one encouraging signal comes from the blockchain itself. IntoTheBlock data reveals that Bitcoin’s network activity is rising again, with the number of active addresses surging past 800,000 yesterday.
Although still below peak levels, this spike suggests renewed engagement and a possible return of retail interest—a historically bullish sign when paired with strong price action. The next few days will be crucial. Will bulls reclaim momentum and push toward $100K, or will external risks trigger a deeper pullback?
BTC Price Action Consolidates Below Resistance
Bitcoin is currently trading at $94,900 after spending several days consolidating between the $92,000 and $96,000 levels. This tight range has kept traders on edge as bulls attempt to maintain momentum while market participants await a decisive move. The key for bulls now is to break above this consolidation zone and push toward the psychological milestone of $100,000, which would signal a continuation of the broader rally.
However, without a strong breakout above $96K, the move risks losing steam and may remain range-bound in the short term. The absence of a catalyst—whether macroeconomic or technical—could lead to continued sideways action and increased volatility within this narrow band.
On the downside, if BTC loses support at $91,000, a drop toward the $87,500 area is likely, where the 200-day moving average and previous demand zones converge. This level would serve as a critical support test and could define whether the current trend maintains a bullish structure or shifts into a corrective phase.
Overall, BTC remains at a crossroads: a breakout above $96K could reignite momentum, while a breakdown below $91K could force a retest of deeper levels and challenge the current bullish narrative.
Featured image from Dall-E, chart from TradingView
