Bitcoin (BTC) price surged sharply between May 6 and May 9, 2025, crossing $100,00

Bitcoin (BTC) price surged sharply between May 6 and May 9, 2025, crossing $104,000 after consolidating earlier this month.

Bitcoin price rose sharply between May 6 and 9, crossing $104,000 after a period of consolidation earlier this month. The crypto behemoth added over 344,000 new wallets daily during this period, which can be attributed to increased retail activity.

Market data confirms that on-chain growth and derivatives activity fueled this breakout, which saw Bitcoin hit a 15-month high on May 8.

Bitcoin Hits $104K Amid Wallet Boom

Bitcoin registered 344,620 new wallets on May 8, the highest daily growth for 2025 so far. This figure surpassed April’s previous peak, reflecting increased user activity during price acceleration.

Wallet creation began rising steadily on May 4 as Bitcoin rebounded from the sub-$94,000 range, rallying to $98,000. Before the current price recovery started, daily wallet creation numbers dropped below 272,000.

Since then, metrics have continued increasing, marking sustained interest in the asset. The latest surge aligned directly with Bitcoin’s move through the $103,000 threshold.

Usually, new wallets point to broader retail participation, especially during bullish momentum. BTC maintained its upward trajectory as inactive users began re-engaging with the network. This trend highlights a growing wave of new participants funding wallets amid the price climb.

On-Chain Data Confirms Widening Activity

According to data from Santiment and other platforms, Bitcoin’s network showed clear signs of rising engagement across multiple metrics.

Network growth in the past week saw new addresses increase by 8.13% and active addresses jump by 8.79%. Additionally, zero balance addresses became active and surged by 11.35%.

These figures indicate that Bitcoin’s recent growth has not been limited to price action alone. User activity on-chain has expanded, suggesting fresh capital entering the ecosystem. The rally created favorable conditions that drew inactive participants back into circulation.

Bitcoin’s network strength has historically correlated with broader market expansion during periods of price momentum. With new and reactivated users contributing, the growth pattern remains consistent. Such activity supports the argument for a durable retail-driven rally.

Derivatives Market Faces Heavy Short Liquidations

Bitcoin’s price rally triggered significant short liquidations across derivatives markets, reinforcing the strength of upward pressure. Over $343.99 million in positions were liquidated within 24 hours, with $320.96 million from short positions. Long positions accounted for $23.04 million in liquidations.

Within 12 hours, $184.90 million of shorts were closed, signaling a classic short squeeze scenario. Traders betting against Bitcoin were forced to buy back, further amplifying the price move. This market reaction underlined the sudden and forceful price shift.

As Bitcoin moved past $104,000, market cap comparisons revealed it surpassed Amazon, reaching $2.040 trillion.

Bitcoin ranks fifth globally by asset value, following NVIDIA, Apple, Microsoft, and Gold.output: TLDR Bitcoin price rose sharply between May 6 and 9, crossing $104,000 after a period of consolidation earlier this month. The crypto behemoth also added over 344,000 new wallets daily during this period, which can be attributed to increased retail activity.

Market data confirms that on-chain growth and derivatives activity fueled this breakout, which saw Bitcoin hit a 15-month high on May 8.

Bitcoin registered 344,620 new wallets on May 8, the highest daily growth for 2025 so far. This figure surpassed April’s previous peak, reflecting increased user activity during price acceleration.

Wallet creation began rising steadily on May 4 as Bitcoin rebounded from the sub-$94,000 range, rallying to $98,000. Before the current price recovery started, daily wallet creation numbers dropped below 272,000.

Since then, metrics have continued increasing, marking sustained interest in the asset. The latest surge aligned directly with Bitcoin’s move through the $103,000 threshold.

Usually, new wallets point to broader retail participation, especially during bullish momentum. BTC maintained its upward trajectory as inactive users began re-engaging with the network. This trend highlights a growing wave of new participants funding wallets amid the price climb.

On-chain data from Santiment and other platforms confirms that Bitcoin’s network is showing clear signs of increasing engagement across multiple metrics.

Network growth in the past week saw new addresses increase by 8.13% and active addresses jump by 8.79%. Additionally, zero balance addresses became active and surged by 11.35%.

These figures