Bitcoin (BTC) has decisively surpassed the $103,800 threshold, marking the first time since January, thus putting an end to weeks of sideways consolidation.

This rise is reflected in a significant increase in network participation. Blockchain analytics firm Santiment reported the creation of over 344,620 new Bitcoin wallets, a clear sign of increased interest, which may be driven by FOMO.

📈 The Bitcoin network saw the creation of 344,620 new wallets on its network amidst a FOMO flow. The highest market capitalization of cryptocurrencies has silenced the pessimists, reaching a peak of $103.8K for the first time since January. 👀 pic.twitter.com/hai245lQJz

— Santiment (@santimentfeed) May 9, 2025

Bitcoin's on-chain status indicates strong investor confidence

By analyzing UTXO age cohorts, a method that classifies unspent transaction outputs by the duration of their inactivity, analysts confirmed a rare achievement: 100% of all UTXO age cohorts are now profitable.

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