Bitcoin network activity spikes to a 6-month high; is $100,000 next?
By: bitcoin ethereum news|2025/05/04 19:15:01
0
Share
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. Notably, the surging activity reflects heightened investor engagement and speculation that Bitcoin may be gearing up for a significant price move as it consolidates around the $95,000 level. The price has steadily climbed from mid-April lows, closely tracking the rise in network participation. Historically, spikes in active address counts have often been early indicators of strong market moves, signaling increased user demand and transaction volume across the blockchain. Bitcoin key price levels to watch Bitcoin is currently consolidating in a narrow range just below a key resistance level. According to cryptocurrency analyst Ali Martinez, who shared insights in a May 3 post on X, the critical resistance to watch is $98,290. A breakout above this level could pave the way for a move toward the highly anticipated $100,000 milestone. On the flip side, $96,160 serves as a crucial support level. With the price oscillating between these two markers, Bitcoin is trading within a tight band that appears poised for a decisive breakout in either direction. Regarding Bitcoin reclaiming the $100,000 spot, a Finbold report indicated that several artificial intelligence (AI) models believe the milestone might be achieved by the end of May. This possibility is also backed by technical insight from TradingShot , who noted that Bitcoin is erasing traces of the recent “Tariffs correction” that shook markets. If this erasing is complete, the analyst stated that Bitcoin would be open to claiming the $106,000 target. Bitcoin price analysis At press time, Bitcoin was trading at $95,470, down about 0.8% over the past 24 hours, while gaining nearly 2% over the past week. Market sentiment remains bullish, with Bitcoin registering a “greed” score of 65. Technically, the asset is trading above the 50-day ($86,939) and 200-day ($86,139) simple moving averages (SMA), confirming an ongoing uptrend. However, traders should remain cautious of a potential short-term pullback. Bitcoin’s relative strength index (RSI) stands at 66.42, indicating slightly overbought conditions. Featured image via Shutterstock Source: https://finbold.com/bitcoin-network-activity-spikes-to-a-6-month-high-is-100000-next/
You may also like

Wall Street's Most Mysterious Money-Making Machine, Crashing Bitcoin Price at 10 a.m. Sharp Every Day
Jane Street's reputation has continued to suffer in recent years

Key Market Information Discrepancy on February 26th - A Must-Read! | Alpha Morning Report
1. Top News: Major Cryptocurrencies, Including Bitcoin, Surge; Jane Street Halts "10 AM Dump" After Lawsuit
2. Token Unlock: $MIRA, $SAHARA, $HUMA, $BLAST, $ALOT

How was the Backpack staking token swap established?
Backpack is taking a path of unvalidated transactions, requiring a delicate balance between regulators, equity holders, and token stakers.

Can You Still Launch a VC Firm Today?
Put Your Reputation on the Line, Find a Clear Edge, Win a Few Key Trades, and Stay in It for the Long Haul

Claude Cowork Adds Scheduled Task, Jane Street Incident Continues to Stir, What's the Overseas Crypto Community Talking About Today?
What Was Trending for Foreigners in the Last 24 Hours?

Leveraging $6,000 to Move a $200M Market Cap? How Polymarket Creates an "Insider Trading Illusion"
After a large bet on Meteora on Polymarket, the price of MET rose instead of falling within an hour.
WEEX AI Hackathon: $8B Traded, Real AI Strategies Proven
How profitable is AI trading in real crypto markets? WEEX's $1.88M global AI hackathon reveals $8B volume, 227% ROI, API strategy data, and why only 8 of 37 traders made profit.

Advantages and Challenges of Modern Cryptocurrency Trading Platforms
Key Takeaways: Modern cryptocurrency trading platforms offer enhanced security measures to protect user assets. User-friendly interfaces and comprehensive…

Original Article Unavailable: Bridging Cryptocurrencies and the Emerging Trends
Key Takeaways Cryptocurrency markets are increasingly woven into the fabric of global financial systems. With advancements in blockchain…

Untitled
I’m sorry, but I am unable to fulfill this request as it lacks specific content from the original…

The one who bought the Meta stablecoin Diem back in the day is a good friend of SBF.
The original idea was to combine a bank-licensed compliant entity with an underlying clearing network built over three years by a Silicon Valley giant, to enable seamless payments for everything you can imagine

February 25th Market Key Insights, How Much Did You Miss Out?
1. On-Chain Funds: $32M inflow to Ethereum this week; $54.9M outflow from Arbitrum
2. Largest Price Swings: $SN115, $RAVE
3. Top News: Tonight's Circle and NVIDIA earnings reports, AI narrative's impact on crypto market sentiment under scrutiny

Dragonfly Partner Haseeb Conversation: The AI Apocalypse is Far Away; Smart Contracts are Machine-Destined Law
In the world of crypto, the first lesson you learn is the importance of "HODLing" on.

IOSG: DeFi Upward, User Downward; Curator's New Paradigm of CeDeFi
As DeFi matures and grows more complex, the Curator is becoming a key intermediary connecting risk and users.

DDC continues to advance its Bitcoin reserve strategy, with a total holding of 2118 BTC
DDC Enterprise Limited has today announced the additional purchase of 50 bitcoins, increasing its total bitcoin holdings to 2,118 bitcoins. This latest acquisition marks DDC's seventh consecutive week of executing its bitcoin accumulation plan. Based on its current holdings, DDC is ranked 34th in the global publicly traded companies bitcoin holdings list.

From Mining Enterprise to Infrastructure Builder, Bitdeer Unpacks the Survival Logic behind BTC
Profit margins nearing the red line, miners are starting to use Bitcoin as fuel.

How Can Agentic Commerce Empower AI to Start Making Money?
The first wave of moneymaking AIs has arrived, which projects are worth paying attention to

February Correction: Is the Crypto Market Bottoming Out?
Based on historical experience, the most intense phase of this downturn may be about to end.
Wall Street's Most Mysterious Money-Making Machine, Crashing Bitcoin Price at 10 a.m. Sharp Every Day
Jane Street's reputation has continued to suffer in recent years
Key Market Information Discrepancy on February 26th - A Must-Read! | Alpha Morning Report
1. Top News: Major Cryptocurrencies, Including Bitcoin, Surge; Jane Street Halts "10 AM Dump" After Lawsuit
2. Token Unlock: $MIRA, $SAHARA, $HUMA, $BLAST, $ALOT
How was the Backpack staking token swap established?
Backpack is taking a path of unvalidated transactions, requiring a delicate balance between regulators, equity holders, and token stakers.
Can You Still Launch a VC Firm Today?
Put Your Reputation on the Line, Find a Clear Edge, Win a Few Key Trades, and Stay in It for the Long Haul
Claude Cowork Adds Scheduled Task, Jane Street Incident Continues to Stir, What's the Overseas Crypto Community Talking About Today?
What Was Trending for Foreigners in the Last 24 Hours?
Leveraging $6,000 to Move a $200M Market Cap? How Polymarket Creates an "Insider Trading Illusion"
After a large bet on Meteora on Polymarket, the price of MET rose instead of falling within an hour.