{"id":64118,"date":"2025-05-04T20:30:06","date_gmt":"2025-05-04T20:30:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=64118"},"modified":"2025-05-04T20:30:06","modified_gmt":"2025-05-04T20:30:06","slug":"bitcoin-hits-6-month-high-in-active-addresses-is-100k-the-next-target","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=64118","title":{"rendered":"Bitcoin Hits 6-Month High In Active Addresses: Is $100K The Next Target?"},"content":{"rendered":"

Bitcoin bulls are trying to push higher <\/a>from just under $97,000, attempting to confirm its latest breakout above a multi-day consolidation range. After stalling near $95,000 for over a week, Bitcoin broke out to $97,000 before reversing and forming a fair value gap.\u00a0<\/p>\n

This has led to a surge in activity on the Bitcoin blockchain, and the next outlook is whether the current structure holds for a continuation<\/a> to $100,000 or if this momentum could falter at a zone of resistance.<\/p>\n

Bitcoin Reaches 6-Month Peak In Network Activity<\/h2>\n

One of the most notable shifts in market dynamics came from the on-chain side. According to crypto analyst Ali Martinez, Bitcoin just recorded its highest number<\/a> of active addresses in the past six months. As shared in a post on social media platform X, Martinez noted that 925,914 BTC addresses were active within a single day, which is an unusually high level of engagement <\/a>on the Bitcoin blockchain.<\/p>\n

The accompanying Glassnode chart reveals how steep this surge has been, building on a gradual climb that started in the last week of April. Interestingly, the spike in Bitcoin activity coincides with its recent reclaim of the $95,000 price range.\u00a0<\/p>\n\n

Image From X: @ali_charts<\/a><\/p>\n

Adding to the bullish case, crypto analyst TehThomas shared a compelling<\/a> technical analysis that pointed to a breakout continuation toward $100,000.<\/a> Interpretation of the BTCUSDT 4-hour timeframe shows an almost identical structure to the one seen in mid-April.\u00a0<\/p>\n

Back then, Bitcoin consolidated near $86,000, broke out, left behind a fair value gap (FVG), retested the gap, and rallied nearly $10,000. A mirror image of this pattern <\/a>is currently unfolding. The Bitcoin price compressed below $95,000, broke through resistance, and created a fresh FVG between $94,200 and $95,000.<\/p>\n

TehThomas noted that the key is not to chase the breakout but to wait for a clean retest of the new FVG. If buyers defend that area as they did earlier this month, the road to $100,000 is structurally intact. However, even though the structure currently favors the bulls, the situation could turn bearish if Bitcoin drops back into the old range below $94,000.<\/p>\n\n

Bearish Golden Pocket Setup Highlights Risk Ahead<\/h2>\n

Not all analysts are convinced<\/a> that Bitcoin will reach $100,000 again without a shakeout first. A counterview on<\/a> the TradingView platform highlights a possible short-term bearish setup based on the BTCUSDT 15-minute chart.\u00a0<\/p>\n

According to the analyst, the current upward retracement appears corrective rather than impulsive, forming a classic short setup within a strong fair value gap resistance zone. Technical analysis shows that Bitcoin has retraced into a region that aligns with a bearish fair value gap and the golden pocket zone defined by the 0.618 to 0.65 Fibonacci levels.<\/p>\n

As it stands, the fair value gap is sitting between $97,000 and $97,450. Should price fail to break through this supply region, it could reverse and catch bulls off guard.<\/a><\/p>\n\n

Chart from TradingView<\/p>\n

At the time of writing, Bitcoin was trading at $96,040.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin bulls are trying to push higher from just under $97,000, attempting to confirm its latest breakout above a multi-day consolidation range. After stalling near $95,000 for over a week, Bitcoin broke out to $97,000 before reversing and forming a fair value gap.\u00a0 This has led to a surge in activity on the Bitcoin blockchain, […]<\/p>\n","protected":false},"author":0,"featured_media":64119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-64118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/64118"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64118"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/64118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/64119"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}