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 blockchaindata—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.
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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.
Alexander Stefanov
