{"id":4457,"date":"2025-05-05T04:11:08","date_gmt":"2025-05-05T04:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-hits-6-month-high-in-active-addresses-is-100k-the-next-target\/"},"modified":"2025-05-05T04:11:08","modified_gmt":"2025-05-05T04:11:08","slug":"bitcoin-hits-6-month-high-in-active-addresses-is-100k-the-next-target","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-hits-6-month-high-in-active-addresses-is-100k-the-next-target\/","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 to $100,000 or if this momentum could falter at a zone of resistance.<\/p>\n

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

One of the most notable shifts in market dynamics came from the on-chain side. According to crypto analyst Ali Martinez, Bitcoin unusually high level of engagement 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

\"\"<\/p>\n

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

Adding to the bullish case, crypto analyst TehThomas continuation toward $100,000. 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

<\/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

\"\"<\/p>\n

Bearish Golden Pocket Setup Highlights Risk Ahead<\/b><\/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.<\/p>\n

\"\"<\/p>\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>\n","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":1,"featured_media":4458,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[65,111,108,253,70,254],"class_list":["post-4457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-blockchain","tag-btcusd","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/4457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=4457"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/4457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/4458"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=4457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=4457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=4457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}