Bitcoin ($BTC) has recently witnessed a noteworthy milestone in terms of on-chain liveliness. Specifically, the on-chain liveliness of Bitcoin ($BTC) has reached a multi-year peak level. As per the data from Glassnode, this new high denotes a pivotal momentum in Bitcoin’s present market cycle. At the same time, the consolidation of $BTC around the $89K mark is also pointing toward a likely bullish momentum.
Bitcoin ($BTC) Activity Surges as Liveliness Hits Multi-Year High
The on-chain data reveals that Bitcoin’s ($BTC) on-chain liveliness indicator has achieved a new multi-year high mark. Additionally, the respective indicator’s 365-day and 30-day simple moving averages (SMAs) are also trending upward. This reflects increased coin activity and growing investor engagement.
At the same time, this surge highlights a robust demand setting while also hinting at the continuation of Bitcoin’s bull cycle while it is consolidating around $89K. In this respect, the significant $BTC accumulation around the $89,000 reportedly displays the early signs of a potentially massive breakout.
Reactivated $BTC Sparks Fresh Investor Confidence Boost
The liveliness indicator discloses a compelling trend as the long-dormant coins are eventually re-entering the market circulation on a huge scale. Dissimilar to the rally of 2017, including thousands of dormant coins, the current rally is witnessing billions of dollars in formerly inactive $BTC coins become active again.
According to Glassnode, Bitcoin ($BTC) is experiencing a notable surge in short-term activity in comparison with long-term averages. This serves as a classic sign of growing investor confidence. Moreover, the dormant coins’ reactivation may also pave the way for a powerful bull run. In the meantime, the investors and market onlookers are keenly watching for the possible market shift as 2025 comes to a close.
Source: https://blockchainreporter.net/bitcoin-liveliness-claims-multi-year-peak-as-89k-accumulation-hints-bullish-momentum/
