Bitcoin’s Path to $100K Hinges on Stronger On-Chain Demand
Although Bitcoin recently climbed to $94,000, on-chain metrics show market activity remains muted. Analyst Kamran Asghar warns that a stronger rebound is essential to sustain momentum toward the $100,000 milestone.
Notably, Bitcoin’s dip to $90,126, per CoinCodex data, reflects cautious market sentiment.
Analyst Kamran Asghar warns that without a surge in on-chain activity, transaction volume, active addresses, and network usage, recent gains may struggle to sustain a push toward $100K.
Well, Bitcoin’s past rallies to $60K and $70K were fueled by strong on-chain activity, including surging transactions and record active addresses. Today, muted engagement signals cautious investors, likely consolidating profits or awaiting clearer market cues before committing further capital.
The analyst notes that while macroeconomic trends, interest rates, and regulations can sway investor behavior, lasting rallies hinge on genuine on-chain activity. Past cycles show that price surges without strong network support often trigger corrections.
For Bitcoin to realistically reach $100,000, on-chain metrics must show a decisive rebound. Stronger network activity, higher transaction volumes, and increased engagement from long-term holders would signal renewed confidence and support a sustainable uptrend. While recent price gains are encouraging, Asghar emphasizes that true momentum depends on these underlying metrics.
Until on-chain demand picks up, the path to $100K remains tentative, shaped by both market sentiment and network fundamentals. Investors should remember: genuine rallies are driven by activity, not just price spikes.
Conclusion
Bitcoin’s recent rebound is encouraging, but without a surge in on-chain activity, the path to $100,000 may lack staying power. Asghar notes that lasting rallies rely on genuine network engagement, higher transaction volumes and active holder participation. Investors should monitor these on-chain metrics closely, as they will reveal whether the current momentum signals a historic surge or a short-lived spike.
Source: https://coinpaper.com/13607/sustained-on-chain-buying-is-needed-to-light-bitcoin-s-100-000-fuse
