*Bitcoin News: BTC Nears One Million Daily Active Addresses as $100K Milestone Approaches*
Bitcoin's (BTC) network activity is surging, with nearly one million daily active addresses recorded for the first time since 2019. This growing adoption marks a promising sign for Bitcoin’s (BTC) price movement as it inches closer to the historic $100,000 milestone, which it narrowly missed by $200 on November 22. Analysts believe the rise in active addresses reflects increasing retail investor participation, potentially stabilizing Bitcoin’s price trajectory.
Bitcoin Network Activity Hits New Highs
On-chain analytics platform IntoTheBlock noted on November 26 that Bitcoin’s daily active addresses are nearing one million—a level last seen in 2019. This surge highlights a shift toward broader retail adoption, a key factor in Bitcoin's resilience and future price performance.
Price Correction and Market Sentiment
Despite the uptick in network activity, Bitcoin (BTC) experienced a 6% price correction to $92,400 on November 26. According to Bloomberg analyst Eric Balchunas, this was driven by long-term holder sell-offs rather than outflows from U.S.-based spot Bitcoin exchange-traded funds (ETFs).
Can Active Users Drive Bitcoin to $100K?
Bitcoin’s (BTC) price resurgence is strongly linked to its growing user base. According to IntoTheBlock, over 458,000 investors acquired 344,000 BTC at a price above $96,700, forming a solid foundation for Bitcoin’s next rally.
Market Dynamics Favor Bitcoin’s Growth
The broader market sentiment has remained bullish. Last week, Bitcoin ETFs logged $2.4 billion in inflows, their fourth-best week since launch. Simultaneously, economic concerns drove $2 billion worth of outflows from China ETFs, signalling a growing shift in investor focuses toward Bitcoin.