Bitcoin is nearing one million daily active addresses for the first time since 2019, indicating growing adoption in 2024 and suggesting potential upward movement toward the historic $100,000 price mark. According to blockchain analytics firm IntoTheBlock, this marked increase in on-chain activity signals a shift from whale investors to retail participants, which could lead to more stable price dynamics. Despite a 6% price correction to $92,400 on November 26, analysts believe the surge in active addresses is a positive sign for Bitcoin's future. Notably, 458,000 addresses hold Bitcoin acquired above $96,700, establishing a strong base for further price increases. However, trading volume remains relatively stable, pointing out that the increase in active addresses has not yet translated into significant buying or selling pressure. Analysts caution about potential market corrections driven by profit-taking behavior, which could heighten price volatility.

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