Activity on the Bitcoin network has increased after months of declines, but the price is still below $70,000.
Bitcoin network activity “just spiked after months of decline,” CryptoQuant reported Monday. The blockchain analytics provider’s index tracks addresses, transactions, UTXOs, and block space demand.
He noted that the number of daily Bitcoin transactions now stands at about 615,000, the highest level since November 2024. He added that this shift is happening while Bitcoin fees remain relatively low, “so part of this uptick in activity may be operational, not just organic demand.”
Low-fee environments make it cheaper for exchanges, custodians, and large holders to merge UTXOs, rebalance wallets, and reallocate funds on-chain, CryptoQuant reported.
Bitcoin network activity has just surged after months of decline.
CryptoQuant network activity indicator rebounds: tracking addresses, transactions, UTXOs, and block space requests.
What is happening? Let’s dive in 👇 pic.twitter.com/KXgOsTeF03
— CryptoQuant.com (@cryptoquant_com) April 6, 2026
Trading volumes remain low
So this spike in activity may not be directly related to the price action, which remains weak. Meanwhile, Glassnode I mentioned On Monday, the latest breakout comes after a period of pressure and “indicates a renewed attempt to defy public resistance.”
She added that the decline in exchange volume indicates that participation is still relatively light, “which indicates a constructive recovery but is not yet fully confirmed.”
Santiment took a look at social sentiment, Pointing The public believes this rise is likely to continue, recording the third highest “greed score” in about three months.
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“As optimism rises, remember that markets usually move against the public’s expectations.”
At the time of writing, the Cryptocurrency Fear and Greed Index has fallen to “Extreme Fear” at 11, which is where it has been for the past two weeks.
Permapol “Psychodelic” has always been the optimist. Comment on Tuesday that Bitcoin has put together an “extended flat reversal pattern for the higher time frame.”
“If we recover $74,400 weekly, the correction is over, and we will very likely never look back, whether we sweep $60,000 or not,” they said.
BTC price forecast
Bitcoin Exploited $70,000 in late trading on Monday before falling to $68,500 during the Asian trading session on Tuesday morning. Bitcoin remains stuck in a range-bound channel for two months, and geopolitical headlines, both good and bad, appear to have been severely affected. Little effect attic.
Bitcoiner Scott Melker He said If history is any guide, this sideways inactivity could easily extend into another hundred days, “or be disbanded and the entire operation reset.”
“There’s no telling where the bottom will be, but the consensus still looks like it’s leaning lower — and if price follows, those expectations will continue to shift lower with it.”
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