Bitcoin Activity Surges as On-Chain Momentum Signals Fresh Breakout Potential

TheNewsCryptoPublished on 2026-04-07Last updated on 2026-04-07

Abstract

Bitcoin network activity has surged significantly after months of decline, according to analytics firm CryptoQuant. Daily transactions exceeded 615,000, the highest since November 2024. This uptick coincides with low transaction fees, suggesting the increase may be driven by operational adjustments—such as UTXO consolidation by large holders and exchanges—rather than purely organic demand. Despite the activity surge, Bitcoin’s price remains subdued, trading around $68,423 with a slight decline. Meanwhile, U.S. spot Bitcoin ETFs saw substantial inflows, with $471 million recorded on Monday—the highest since late February. The price briefly surpassed $70,000 before retreating amid ongoing geopolitical tensions and concerns over quantum resistance. Analysts note similarities in stochastic RSI patterns to early 2023, suggesting a potential bullish breakout reminiscent of the previous cycle’s recovery.

Bitcoin network activity “just snapped higher after months of decline,” according to Monday’s assessment by CryptoQuant. A blockchain analytics provider’s index keeps tabs on demand for blockspace, addresses, transactions, and UTXOs.

It pointed out that there had been over 615,000 Bitcoin transactions per day, the most since November 2024. This change is taking place at a time when Bitcoin fees are still low, so it’s possible that some of the recent activity bump is due to operational factors rather than purely organic demand.

CryptoQuant noted that under low-fee situations, big holders, exchanges, and custodians may combine UTXOs, rebalance wallets, and rearrange funds on-chain more cheaply.

Consequently, the lackluster price movement may have little to do with this surge in activity. Following a period of compression, the current breakout indicates a fresh effort to confront overhead resistance, according to Glassnode’s Monday analysis.

Positive Momentum

The rate of inflows into US-listed spot Bitcoin ETFs has picked back up, with the highest daily volumes seen in weeks. Monday saw $471 million pour into spot Bitcoin ETFs, the most daily inflow since $507 million on February 25 (as reported by SoSoValue).

According to CoinGecko statistics, the inflows occurred when the price of Bitcoin momentarily surpassed $70,000 before falling below $69,000. The Crypto Fear & Greed Index stayed in “Extreme Fear” at 13, and the volatility happened under ongoing geopolitical pressure and fresh worries about Bitcoin’s quantum resistance.

Quantum Ascend, a crypto trader, revealed copycat movements on Bitcoin’s stochastic relative strength index (RSI) in a Monday X post. In the comparison chart posted by the analyst, it was highlighted that stoch RSI and price made a double bottom before they both rocketed upward in early 2023. The Bitcoin/USD had just hit a multi-year low of $15,600, which would later represent the bottom of the bear market.

According to the analyst, everything is “playing out nearly perfectly” for the repeat performance now. After hitting local lows in late January and late March, the stoch RSI is currently trying to break out of its 50/100 midway. At the time of writing, Bitcoin is trading at $68,423, down 1.48% in the last 24 hours as per data from CMC.

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Related Questions

QWhat does the CryptoQuant Network Activity Index track according to the article?

AThe CryptoQuant Network Activity Index tracks demand for blockspace, addresses, transactions, and UTXOs.

QHow many Bitcoin transactions per day were reported, and when was the last time such a high number was seen?

AThere were over 615,000 Bitcoin transactions per day, which is the most since November 2024.

QWhat was the amount of daily inflow into US-listed spot Bitcoin ETFs on the Monday, and how does it compare to a previous date?

AOn Monday, $471 million poured into spot Bitcoin ETFs, which is the most daily inflow since $507 million on February 25.

QWhat pattern did the analyst Quantum Ascend identify on Bitcoin's stochastic RSI, and what historical event does it resemble?

AThe analyst identified copycat movements where the stoch RSI and price made a double bottom, resembling the pattern from early 2023 when Bitcoin hit a multi-year low of $15,600 before rallying.

QWhat are some operational factors that might be contributing to the recent surge in Bitcoin network activity under low-fee conditions?

AUnder low-fee situations, big holders, exchanges, and custodians may combine UTXOs, rebalance wallets, and rearrange funds on-chain more cheaply, which could contribute to the activity surge.

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