Bitcoin Reaches 6-Month High in Active Addresses Amid Price Surge
Bitcoin is currently trading around $96,040, having briefly reached $97,000 after breaking a multi-day consolidation. It has formed a fair value gap following this breakout.
Increased Network Activity
- Bitcoin recorded 925,914 active addresses in one day, marking the highest activity in six months.
- This surge coincided with Bitcoin's reclaiming of the $95,000 price range.
- A technical analysis suggests a continuation toward $100,000 if the structure holds.
Potential Risks Ahead
- Some analysts suggest that Bitcoin may face a short-term bearish setup before potentially reaching $100,000.
- A retracement to the region between $97,000 and $97,450 could indicate a resistance zone.
- If Bitcoin fails to break through this zone, it may reverse and catch buyers off guard.
