Bitcoin’s on-chain fundamentals remain strong. Hash rate—an indicator of network security—continues to trend upward, signaling growing participation from miners and stronger network resilience. The number of non-zero addresses is also increasing, suggesting a broadening user base and rising global adoption.
Transaction volumes on the Bitcoin network remain healthy, with significant activity observed across both retail and institutional wallets. Network fees remain manageable, ensuring that transactions continue to flow smoothly without congestion.
Long-term holders have continued to accumulate BTC, reducing available supply on exchanges. This behavior supports the ongoing supply crunch narrative, which could propel prices upward in the absence of significant selling pressure.
Bitcoin’s recent performance illustrates a robust market structure supported by institutional capital, strong on-chain metrics, and a favorable technical setup. Price movement above $87,000, coupled with inflows into ETFs and bullish chart patterns, signals continued confidence in the asset.
However, Bitcoin remains sensitive to global macroeconomic conditions, monetary policy shifts, and investor sentiment. While the road to $100,000 and beyond remains plausible, the must navigate through potential headwinds, including competition from gold, potential regulatory tightening, and short-term volatility.
Market participants will continue to watch key support and resistance levels, institutional movements, and broader economic trends to determine whether Bitcoin can maintain its upward trajectory through the remainder of 2025.