Bitcoin’s price has been a bit of a rollercoaster lately. After briefly hitting near $118,000 following a Fed rate cut, it’s back down around $115,000. But don’t let that fool you – some interesting things are happening behind the scenes.
Network Activity Explodes
Recent data shows a huge jump in Bitcoin network activity. This means a lot more transactions are happening on the Bitcoin blockchain. One analyst, using a 14-day average of transaction counts, saw a peak of 540,000 – the highest point of 2025 so far.
This surge in activity usually points to increased demand and use of the network. Things like Bitcoin Ordinals and Runes might be boosting this demand.
Bullish Convergence: Price and Activity Align
What’s really interesting is that this increased activity is happening at the same time as Bitcoin’s price is rising (since July). Usually, these two things don’t move together so neatly. This simultaneous increase strengthens the argument that this price rise isn’t just hype; it’s backed by real network usage.
This suggests a strong upward trend for Bitcoin.
What’s Next for Bitcoin?
The analyst cautions that this bullish momentum depends on keeping this high level of network activity. So, keeping an eye on transaction counts is crucial for anyone making investment decisions.
Currently, Bitcoin is trading around $115,744, slightly down in the last 24 hours. While there’s some short-term bearish pressure, the bigger picture shows Bitcoin is mostly just consolidating. It hasn’t really changed much over the past week.
