After months of hesitation and price depression, Bitcoin has finally reversed its trend, skyrocketing past $100,000 for the first time since February and continuing to climb to a new local peak. This remarkable resurgence has not only invigorated the crypto market but also captured the attention of retail investors.
According to data from Santiment, approximately 350,000 new wallets have been created on the world’s largest blockchain network amidst this impressive rally. The influx of new wallet creations indicates a growing interest and renewed confidence among retail investors, with many eager to enter the market as FOMO (Fear of Missing Out) sets in.
Bitcoin’s network saw 344,620 new wallets be created 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 often reflects the underlying asset’s price movements. During February, Bitcoin’s blockchain witnessed a substantial exodus, leading to minimal activity as BTC faced a months-long retracement that culminated in an early April plunge below $75,000. This trend, however, began to shift after hitting a five-month low, with network activity picking up significantly.
Just last week, key metrics demonstrated a six-month high, aligning with an impressive price surge that elevated BTC by $20,000. With Bitcoin briefly exceeding $104,000 earlier today, its gains since the April low have surged to approximately $30,000, and the count of active addresses has continued to rise, as noted by Santiment.
Additional reports have emerged indicating that retail investors are indeed stepping into the BTC landscape. Historically, such circumstances have led to explosive market rallies, though they have also marked the beginning of downturns in previous bull cycles. Retail participation often signifies that Bitcoin has peaked several months later.
As we savor this rally past the $100,000 mark, we will explore price predictions and delve into reasons why this time may differ from the past. BTC has also successfully passed through significant resistance levels, bolstering the case that new market dynamics may be at play.
As the market continues to evolve, this moment highlights the resilience and unpredictable nature of cryptocurrency, inviting both seasoned investors and newcomers to participate actively in the unfolding narrative of Bitcoin’s journey.
