Bitcoin Hits Record Active Addresses: Is The $100,000 Milestone Next?

While uncertainty looms over global markets, a clear signal emerges at the bitcoin level: on-chain activity is booming. With nearly one million active addresses in 24 hours, a six-month high, attention is refocusing on the network’s fundamentals. BTC, after peaking at $97,000, hovers around $94,000. This resurgence in activity is intriguing: a lasting effect or just a temporary spike? Traders sharpen their analyses and watch for the next impulse.

On-Chain Activity in Full Boil

On May 3, on-chain analyst Ali Martinez published a major observation on the Bitcoin network via his X account (formerly Twitter):

The number of active addresses on the Bitcoin network has just reached a six-month high, with 925,914 addresses in a single day.

This spectacular figure far surpasses recent averages, confirming a clear resurgence in blockchain interactions. The chart shared by Martinez shows a gradual rise since the end of April, culminating with this explosion of activity as the BTC price returned above $95,000.

This correlation between network activity and price movement could indicate the consolidation of a new structural support.

Such on-chain effervescence seems to intertwine with a technical setup that several analysts qualify as favorable. TehThomas specifies that a market pattern identical to that of April is reproducing.

At the time, the break of a consolidation level around $86,000 led to a jump of $10,000. Moreover, a similar structure emerges with the formation of a Fair Value Gap (FVG) between $94,200 and $95,000, considered a potential support level. Here are the technical elements highlighted:

• A recent breakout of the consolidation zone around $95,000;
• The formation of a new FVG (liquidity imbalance zone) between $94,200 and $95,000;
• A repeated technical scenario similar to April’s rally;
• The condition set: if this FVG is defended by buyers, “the path to $100,000 remains structurally intact“.

This first analytical sequence of the Bitcoin network, based on on-chain signals and bullish technical structures, lays a solid framework for the hypothesis of a new rally. However, other market voices temper this enthusiasm.

A Technical Obstacle Matching Ambitions?

While some analysts see this dynamic as a bullish repetition, others call for caution. A contradictory analysis points out that the current rebound might only be a corrective retracement, not an impulsive thrust.

The bullish movement seems to hit an important technical resistance zone, corresponding to a bearish FVG located between $97,000 and $97,450. This zone coincides with the famous “preferred technical range”, defined by Fibonacci levels 0.618 to 0.65. It is often interpreted as potentially trapping for overconfident investors.

This strategic positioning of price in a technical resistance zone reinforces uncertainty. The BTC/USDT 15-minute chart analysis shows that if bitcoin fails to clearly break through this threshold, a fallback to the former range below $94,000 could catch traders off guard. This scenario would call into question the legitimacy of the current breakout, signaling a possible “false bullish signal”. For now, BTC holds at $94,326, in the immediate vicinity of this critical zone.

Looking beyond technical indicators, this configuration reveals the market’s extreme sensitivity to ambiguous signals. A clear bullish confirmation could trigger a capital influx, which would strengthen the push toward $100,000. However, conversely, a sharp rejection at these levels could crystallize a significant correction . For investors as well as observers, the next market decision in this highly symbolic technical zone will likely be decisive for the cycle’s continuation.