Bitcoin Hits 6-Month High In Active Addresses: Is $100K The Next Target?
Summary
Bitcoin is attempting to break above $97,000 after consolidating near $95,000 for over a week. A recent surge in blockchain activity saw 925,914 active addresses in one day, the highest in six months. Analysts suggest a potential continuation toward $100,000, with a technical pattern resembling a previous breakout in April. A fair value gap has formed between $94,200 and $95,000, indicating a critical area for buyers. However, some analysts warn of a bearish setup, citing a corrective upward retracement and resistance in the $97,000 to $97,450 range. If Bitcoin fails to surpass this zone, it may reverse, impacting bullish momentum. As of the latest update, Bitcoin was trading at $96,040.
