Bitcoin Breaks $103K as Wallets Surge and $108K Target Forms

• Bitcoin breaks $103.8K for the first time since January as new wallet activity picks up pace
• Over 344K Bitcoin wallets go live as network data and UTXO profits fuel bullish sentiment
• MACD confirms Bitcoin’s bullish trend with price targeting the next breakout near $108K

Bitcoin (BTC) has decisively pushed past the $103,800 threshold, a first since January and putting a definitive end to weeks of sideways consolidation. 

This upward drive is mirrored by a notable rise in network engagement. Blockchain analytics firm Santiment reports over 344,620 new Bitcoin wallets created, a clear sign of heightened interest, potentially driven by FOMO.

Bitcoin's network saw 344,620 new wallets be created on its network as FOMO poured in. Crypto's top market cap asset has silenced bears, reaching a high of $103.8K for the first time since January. pic.twitter.com/hai245lQJz

— Santiment (@santimentfeed) May 9, 2025

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