Bitcoin Price Hits $104K as New Wallet Addresses Flood the Market

By: crypto news|2025/05/09 23:45:04

Bitcoin price experienced its strongest rally in months in the last 3 days as new wallet registration and investors poured in. The digital assets started bouncing back on May 6 after a quiet start on the month. It went from $94,000 to surged past $103,890 today.At press time, Bitcoin price is at $103,114 on Friday, May 9. The surge came with a record-setting 344,620 new wallets created on May 8, which is the highest single-day total of 2025 so far.BTCUSD Price Chart | Source: CoinGeckoThe spike in wallets began on May 4 as Bitcoin started climbing. New wallets are often a sign that more everyday people are joining the action. On-chain data from Santiment showed Bitcoin network activity increasing across several metrics. New addresses went up by 8.13%, active users by 8.79%, and zero-balance wallets becoming active jumped by 11.35% in the past week.Bitcoin sees 344k fresh wallet addresses | Source: x.com/santimentfeedAs the price moved higher, Bitcoin’s network became busier with both new and returning users. Activity picked up sharply as prices crossed $103,000. This kind of trend means more people are funding wallets and jumping into the market. Many had been inactive before the rally began.In the background, a wave of liquidations hit traders betting against Bitcoin. Coinglass data shows that $343.99 million in derivatives positions were wiped out within 24 hours, $320.96 million of that from shorts. A short squeeze happens when prices rise and force short sellers to exit fast, often by buying Bitcoin themselves, which drives prices up more.Meanwhile, spot Bitcoin ETFs attracted strong inflows. According to Farside Investors, a total of $142.3 million flowed into funds on May 7. ARK 21Shares saw $54 million, Fidelity brought in $39 million, and BlackRock added $37 million. On May 8, IBIT led with $69 million more.BTCETH Flows from May 6th |Source: Farside InvestorAs prices soared, Bitcoin’s market cap rose above Amazon’s, reaching $2.040 trillion, based on data from SoSoValue. It now ranks fifth among global assets, just behind Gold, Microsoft, Apple, and NVIDIA, according to SosoValue.Also Read: Hayes: Bitcoin to Hit $1M by 2028 as U.S.-China Deal Falters

A Polymarket user supported nearly half of Trade.xyz's "active addresses" with 34,000 wallets, yet contributed less than 1% of the trading volume. The real support for the market comes from market-making institutions like Jump, Selini, and Wintermute, as well as a group of directional traders crossi...

Binance quietly placed a bet on a leading large model company

In the past year, YZi Labs has significantly accelerated its investments in the AI field, from educational agents to physical robots, and then to large models, with crypto capital and AI technology rapidly integrating.

Best Crypto Discord Server 2026: Why Jacob’s Crypto Clan Is Gaining Massive Attention

Jacob’s Crypto Clan has grown into one of the most active crypto Discord communities, with over 45K members and continuing to expand. This rapid growth reflects strong demand for structured trading insights and real-time collaboration.

Tom Lee Buying ETH: Why Wall Street’s Loudest Ethereum Bull Keeps Doubling Down

Tom Lee keeps buying ETH through every dip, every drawdown, and every moment of market doubt. Inside the strategy that's turning Ethereum into a treasury asset — and what it signals for the rest of the market.

Stripe Sessions 2026: AI Agent, Global Payments, and Invisible Crypto Infrastructure

Stablecoins have finally begun to enter the real business world, but this time, the main character may not be exchanges, wallets, or public chains, but Stripe. It encapsulates KYC, wallets, gas, compliance, and settlement, allowing businesses to access on-chain assets just like using regular payment...

Where will South Korea's cryptocurrency taxation head?

There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...

Legendary investor Naval: Apple is dead, SaaS will follow suit, and entrepreneurs have 18 months to reshape their moats

"You can continue to hold Apple stock. Just don't expect that what you hold is stock in a growth company."

Morning Report | Visa includes Polygon in its global stablecoin settlement program; MoonPay invests $100 million to acquire security company Sodot; Digital wallet platform Belo completes $14 million Series A financing

Overview of Important Market Events on April 29

Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions

The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...

Dan Bin takes action, building a position in Circle

If Web3 only stays at the level of price and narrative, traditional capital will find it difficult to truly enter; but once a group of companies that can be clearly explained and included in balance sheets begins to emerge, the way the industry participates will change.

The Impossible Triangle of DeFi Lending

Borrowers want fixed interest rates, while lenders seek immediate liquidity; this is the dilemma of on-chain lending, where both cannot be achieved simultaneously.