Bitcoin’s blockchain has seen a major spike in usage, hitting its highest activity level in six months.
Nearly a million unique addresses were active on May 3, according to blockchain data—pointing to growing user interest just as BTC holds steady around $95,000.
The surge in engagement comes amid mounting speculation that Bitcoin is on the edge of a decisive price move. Historically, when address activity climbs like this, it often signals a buildup before strong price momentum—either up or down.
Currently, BTC is trading within a tight band, with $96,160 acting as a floor and resistance forming near $98,290. If bulls manage to push past that upper barrier, analysts believe $100,000 could soon be within reach.
Adding to the bullish case, some technical analysts say Bitcoin is shaking off recent downward pressure tied to geopolitical events and economic uncertainty. As confidence returns and long-term holders stay firm, the market may be preparing for its next leg upward—possibly targeting the $106,000 range if momentum holds.
French-listed tech firm Blockchain Group is ramping up its Bitcoin holdings through a €63.3 million ($72 million) convertible bond offering, marking its latest move to position itself as a Bitcoin-heavy holding company.
Trump Media & Technology Group is diving deeper into crypto with a $2.5 billion investment in Bitcoin, aiming to solidify its presence in the financial sector.
After a strong run toward new highs, Bitcoin may be losing steam. Some analysts are now warning that the flagship cryptocurrency could soon revisit the $100,000 mark, not due to bearish fundamentals, but because of weakening technical momentum.
Bitcoin’s recent upward momentum is drawing attention once again, with analysts debating the forces behind its ongoing strength.