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The Bitcoin (BTC) network has seen a surge in total transaction volume, reaching levels not seen since the 2024 bull run.
Over the past three days, the Bitcoin transaction count—measuring the total number of transactions executed on the network daily—rose to approximately 831,000, according to data from CryptoQuant analyzed by Finbold on May 12.
The spike in Bitcoin’s daily transaction count may point to increased demand for transfers and trading, particularly from institutional investors. With the flagship coin trending higher over the past few weeks, higher network activity could support bullish sentiment if it continues in the near term.
Elevated Bitcoin transaction counts have previously coincided with bullish sentiment. After the approval of spot BTC exchange-traded funds (ETFs) in early 2024, the network’s transaction count rose alongside the asset’s value, reaching a level nearly matching the most recent record at the time.
If network activity keeps increasing, it may support near-term growth, as Finbold previously noted. Conversely, if BTC’s network activity declines over the coming days, a further correction—potentially driven by macroeconomic events—could become more likely.
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