Global markets are uncertain, but Bitcoin shows clear signs of activity. On-chain activity has surged, reaching nearly one million active addresses in 24 hours. This is the highest number in six months. Attention is shifting back to Bitcoin’s basics. The price of Bitcoin peaked at around $97,000 and is now near $94,000. This renewed activity raises questions: is it a short-term trend or the start of something bigger? Traders are closely watching for the next move.
Picture a strong golden Golem wearing techno-organic armor, with the Bitcoin logo glowing on its chest. It’s receiving a shower of bright avatars moving toward it.
In summary: The Bitcoin network recorded almost 926,000 active addresses in a single day, marking a six-month high. This increase in on-chain activity happened as Bitcoin broke above $97,000, fueling hopes of a new rally. A strong support area called the Fair Value Gap between $94,200 and $95,000 could hold if buyers stay active. The market stands at a crossroads: it could push toward $100,000 or drop below $94,000.
The number of active addresses on Bitcoin has just hit a six-month peak, with 925,914 addresses in one day. This figure is much higher than recent averages and confirms more activity on the blockchain. A chart shared by Martinez shows a steady rise since late April, peaking as Bitcoin topped $95,000 again.
This excitement on the network matches a technical set-up several analysts see as positive. TehThomas points out that a pattern similar to April is forming now. Back then, Bitcoin broke out of a consolidation zone around $86,000 and shot up by $10,000. Now, a similar pattern appears with the creation of a Fair Value Gap (FVG) between $94,200 and $95,000, which could act as support. The key points are:
Bitcoin just broke above the $95,000 consolidation zone; A new FVG has formed between $94,200 and $95,000; The pattern looks like April’s rally; If buyers defend this FVG, the path to $100,000 stays open.
This initial analysis suggests Bitcoin could be heading for a new rally, based on on-chain signals and bullish technical signs. But not everyone agrees. Some experts warn to be cautious.
Is this a real rise or just a correction? Technical resistance is now blocking Bitcoin. The price faces a zone between $97,000 and $97,450, known as a "tricky" area. It is marked by Fibonacci levels of 0.618 to 0.65. These levels can trap traders who are too confident.
If Bitcoin cannot break through this resistance, it might fall back below $94,000. The 15-minute chart shows that failure to clear this level could lead to a quick drop. This would make the recent rally seem false. Currently, Bitcoin is sitting near $94,326 and close to this key zone.