Bitcoin Network Activity Hits 6-Month High as $100K Target Looms Closer

Bitcoin network activity has reached its highest level in six months, fueling speculation that a breakout toward the $100,000 mark could be imminent.
The Bitcoin (BTC) network is surging with renewed energy as it records its highest activity level in half a year—an indicator that many interpret as a precursor to a major market move.

According to data from Glassnode, Bitcoin reached 925,914 unique active addresses in a 24-hour period as of May 3. This rise in participation aligns with Bitcoin’s steady recovery from its mid-April lows, pushing the price close to the critical $95,000 mark.

The increase in address activity typically signals mounting investor interest and higher transaction throughput—conditions that often precede significant price volatility. Historically, such network surges have accompanied powerful bullish waves.

Key Price Levels in Focus

Crypto analyst Ali Martinez highlighted $98,290 as a major resistance zone. Should BTC break through, it could open the door to the highly anticipated $100,000 level. On the other end, $96,160 stands as immediate support, placing BTC in a tight range that may soon experience a breakout.

AI-based forecasting models, cited by Finbold, suggest the $100,000 mark could be achieved by late May. Meanwhile, technical analyst TradingShot observes that Bitcoin has been shaking off the recent “Tariffs correction,” signaling potential room for upward momentum toward $106,000 if this recovery finalizes.

Current Market Position

At the time of writing, BTC trades at $95,470—down 0.8% over the last 24 hours but up nearly 2% on the week. The technical setup remains favorable, with BTC staying above both its 50-day ($86,939) and 200-day ($86,139) simple moving averages.

The Relative Strength Index (RSI) sits at 66.42, suggesting slightly overbought conditions and the possibility of a short-term pullback. Nevertheless, sentiment remains positive, with a “Greed” reading of 65 on the Fear & Greed Index.

As bulls and bears circle key levels, all eyes are on Bitcoin’s next move—and whether it will finally conquer the six-figure threshold.

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