After a long period of hesitation and price decline, Bitcoin has finally shifted gears. For the first time since February, BTC broke above $100,000, briefly touching $104,000 and continuing its climb toward a new local peak.

At the same time, on-chain data from Santiment shows a notable surge in activity: nearly 350,000 new wallets were created on the Bitcoin network in recent days. This spike reflects growing retail interest—an important signal that often precedes major market movements.

The number of active addresses often mirrors price dynamics. In February, during the depth of a multi-month correction, activity plummeted and BTC dropped below $75,000. That was the low point of a five-month downturn.

But things began to change in April. From its local bottom, BTC gained $20,000 within weeks. On-chain activity surged, reaching a six-month high just last week—coinciding with the impressive price jump.

With BTC now hovering above $104,000, its rebound from April lows totals roughly $30,000. This rise, combined with increasing network engagement, paints a picture of renewed market optimism.

Other reports also point to retail investors re-entering the Bitcoin space. 

Historically, such waves of interest have triggered explosive rallies—but also marked the final phase of bullish cycles. Bitcoin typically peaks a few months after retail investors pour in.

So the big question remains: are we witnessing the start of a fresh bull run—or the euphoric climax before a correction?

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