Bitcoin’s on-chain activity is experiencing a significant uptick, marking the first sustained growth of this scale since 2021.

Daily active addresses are nearing 1 million, highlighting renewed interest in the cryptocurrency.

One factor contributing to Bitcoin’s recent retracement is elevated funding rates, which signaled excessive leverage in the market. However, these rates have now largely normalized, suggesting that the leverage flush may be over, creating a more stable environment for future price movement.

Despite Bitcoin’s price rally, the Korea Premium Index remains below -0.5, indicating subdued retail participation. Historically, this index tends to spike before Bitcoin reaches its peak. Its current low level suggests that the rally hasn’t been driven by retail investors, offering valuable insights for predicting future price tops.

Dip buyers are seizing the moment, with long Bitcoin positions on Binance rising from 45.36% to 55.93% within just eight hours. This shift comes

amid significant liquidations: over $409 million in long positions were liquidated in the past 24 hours, while $772 million in short positions are at risk if Bitcoin rebounds to $98,000.

Bitcoin Spot ETFs Data

Technical indicators also point to potential bullish momentum. The TD Sequential on Bitcoin’s hourly chart has presented a buy signal, supported by a bullish RSI divergence. These factors could push Bitcoin toward the $95,000–$96,000 range.

Additionally, Bitcoin spot markets saw a net outflow of $438 million on November 25, marking the first net outflow in five days. Meanwhile, the BlackRock Bitcoin ETF (IBIT) reported a daily net inflow of $268 million, bringing its total net asset value to $102.23 billion.

With on-chain activity surging and market dynamics stabilizing, Bitcoin’s long-term prospects appear increasingly robust.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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