Bitcoin Nears $117K Amid Steady Holder Confidence and Moderate Transaction Growth

Key Points

1. Bitcoin's price rally to nearly $118,000 is accompanied by a moderate increase in daily transactions, though still below 2023–2024 peak levels.

2. Transaction volumes have declined despite Bitcoin surpassing $90,000, suggesting reduced on-chain activity but strong holder confidence.

3. Ethereum's price stands at $2,994, reflecting a 7% daily increase but an 11% decline year-to-date, highlighting slower recovery compared to Bitcoin.

4. Bitcoin's market valuation is increasingly decoupled from direct base-layer usage, emphasizing its role as a long-term store of value.

5. Ethereum's slower recovery underscores the need for continued innovation and scaling to regain momentum.