After months and months of hesitation and price depression, bitcoin finally reversed the trend and skyrocketed past $100,000 for the first time since February and kept climbing to a new local peak.
At the same time, data from Santiment reveals that the asset’s impressive rally has captured the attention of retail investors, with nearly 350,000 new wallets created on the world’s largest blockchain network.
Bitcoin’s network saw 344,620 new wallets be created on its network as FOMO poured in. Crypto’s top market cap asset has silenced bears, reaching a high of $103.8K for the first time since January. pic.twitter.com/hai245lQJz
— Santiment (@santimentfeed) May 9, 2025
The number of active addresses corresponds to the underlying asset’s price movements to an extent. Recall that Bitcoin’s blockchain had seen a massive exodus in February, with little action taking place. BTC’s price was in the middle of a months-long retracement that culminated in early April with a plunge below $75,000.
However, the landscape started to change after that five-month low, and the network activity picked up. The metric hit a six-month high just last week, which coincided with an impressive price surge that drove BTC north by $20,000.
With the asset briefly exceeding $104,000 earlier today, its gains since the April low surged to roughly $30,000. And, the active addresses count has also been on the rise, according to Santiment.
Other reports on the matter also indicate that retail investors are finally entering the BTC landscape. In the past, such occasions have led to explosive market rallies but also the beginning of the end for the bull cycle. Bitcoin has typically peaked several months after retail joined.
For now, though, let’s enjoy the rally past $100,000 with some price predictions and further information on why this time it could be different. Moreover, BTC has passed through the second important resistance mentioned in this article, which could really mean that things might be different.
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