According to the latest data from Glassnode, Bitcoin's on-chain transaction volume has surged, with the 7-day moving average (SMA) reaching a local high of about $5 billion. This spike on May 14 indicates a revival of bullish sentiment among investors. Notably, such a positive net buying trend has been rare this year, making the current market activity worthy of attention. This phenomenon suggests that market participants' confidence is steadily increasing, further reinforcing the viewpoint that the recent price movements (including the breakthrough of $100,000) are supported by real demand in the spot market. Investors should remain vigilant, as these trends indicate that market dynamics are strengthening, which may impact future Bitcoin valuations.
