#BTCtrade According to Santiment (@santimentfeed), Bitcoin's network recorded the creation of 344,620 new wallets, indicating a significant influx of new participants as FOMO (fear of missing out) intensifies. This surge in wallet activity coincides with Bitcoin reaching a new high of $103.8K, the strongest level since January.
These on-chain metrics signal robust market demand and have effectively silenced bearish sentiment, suggesting further upward price action could be supported by continued retail adoption and network growth. Source: Santiment, May 9, 2025.
Bitcoin has once again captured the spotlight in the cryptocurrency market, achieving a monumental milestone by reaching a high of $103,800 on May 9, 2025, at approximately 10:00 AM UTC, as reported by Santiment on their official Twitter feed. This marks the first time Bitcoin has crossed this threshold since January, signaling a powerful bullish momentum that has effectively silenced bearish sentiment.
Alongside this price surge, Bitcoin's network activity has seen an unprecedented spike, with 344,620 new wallets created on the same day, reflecting a massive influx of new users driven by fear of missing out, or FOMO. This data, shared by Santiment, underscores the growing interest and adoption of Bitcoin as a premier digital asset.
The surge in wallet creation is a critical on-chain metric, often associated with increased demand and long-term holding behavior, which could further propel Bitcoin's price if sustained. Meanwhile, trading volumes on major exchanges like Binance and Coinbase spiked by over 30% within 24 hours of the price peak, with BTC/USDT and BTC/USD pairs recording over $15 billion in combined volume as of 12:00 PM UTC on May 9, 2025.
#BTC #Bitcoin #CryptoTrading #BTCPrice #Crypto #CryptoMarket #Altcoins #BTCBackto50K #BTCTrade #BitcoinMomentum #TradeSetup
