Bitcoin’s Network Growth Just Reached Extreme Levels Last Seen Before The 2021 Surge
Bitcoin’s on-chain fundamentals are flashing a robust sign that hasn’t appeared because the final main bull run. Network Growth has surged to excessive ranges, mirroring the identical situations seen in early 2021, simply earlier than BTC launched its historic rally towards new all-time highs. At the identical time, liquidity is quickly increasing throughout the market, suggesting contemporary capital is flowing in.
Rising Network Adoption Strengthens Long-Term Bull Thesis
The final time Bitcoin’s community development and liquidity reached comparable excessive ranges was in 2021, simply forward of BTC’s closing surge to a brand new all-time high. Swissblock revealed on X that these metrics are actually displaying indicators of restoration, signaling {that a} closing bullish section could also be forming.
However, the present divergence and rising metrics alongside the declining value motion recommend that buyers are re-entering the market primarily to promote. The vital query is whether or not this renewed participation can persist lengthy sufficient to permit the market to stabilize. If Network Growth and Liquidity proceed to increase sustainably, they might present the elemental catalyst for one final upside push earlier than the cycle concludes.
FUD has intensified throughout social media following Bitcoin’s roughly 16% decline since January 28. Santiment has highlighted that after briefly dipping to round $74,600, BTC has rebounded towards $78,300, a transfer largely attributed to retail promoting belongings. This conduct is proof that markets transfer in the other way of the gang’s narrative.
Social sentiment has turned sharply unfavourable, with social data indicating that is probably the most bearish that retail has seen because the November twenty first crash. Historically, intervals of maximum negativity like this have been adopted by a short-term aid rally, and early value motion suggests this bounce is starting to resemble the earlier two post-FUD recoveries.
How Next Cycle Leg Could Push Bitcoin To $104,000
Market skilled and investor, The Milk Road, who beforehand nailed Bitcoin’s drop from its all-time highs, is now predicting a possible 40% acquire beginning instantly. According to Milk Road, BTC may nonetheless expertise a correction starting from -20% to -77% earlier than the subsequent main pivot, which is projected between November 19 and February 2. A shallow 20 to 34% drop appears unlikely. Locally, it needs to be greater than that however smaller than 77%.
Furthermore, BTC fell roughly -40% between its October 6, 2025, ATH and February 2, a transfer according to prior cycle conduct. Milk Road’s yearly cycle evaluation signals a key pivot round February 2, after which BTC may stage a +40% rally, doubtlessly reaching $104,000 between now and September.