Bitcoin’s on-chain activity has surged to levels last seen in December, potentially signaling a major shift in market sentiment.
Data from Glassnode shows that active Bitcoin addresses soared past 912,300 on February 28, marking a three-month high.
According to crypto analytics firm IntoTheBlock, this spike in network activity could indicate a critical market moment, as historical patterns suggest that sharp increases in on-chain transactions often coincide with major price tops and bottoms.
The firm noted that while no single metric guarantees a reversal, the trend suggests Bitcoin may be nearing a crucial turning point.
In market terms, capitulation occurs when widespread panic selling drives prices down sharply before setting the stage for a rebound. And without any delay, the crypto market surged and it appears that bullish reversal is already happening.
The price of Bitcoin just rebounded to over $94,000 after Donald Trump announced the creation of a national crypto reserve, with BTC being at the center of it.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.