Bitcoin’s recent rally to the $87,500–$97,500 range is backed by a spike in active addresses—now at a 6-month high—pointing to rising demand and renewed network activity.

This surge supports a bullish case for a potential breakout toward $100K, though confirmation depends on multiple indicators aligning.

Sustained ETF inflows, low exchange netflows, and stable funding rates will be crucial to validate the uptrend.

Traders should also keep an eye on macro conditions, Bitcoin dominance, currently nearing the 55% mark, and rising hash rates.

Meanwhile, Ethereum trades in a narrower $1,600–$1,900 range, still lagging behind BTC’s momentum, with sentiment more muted amid fewer catalysts and cautious capital rotation into altcoins.

Ryan Lee, Chief Analyst at Bitget Research

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