Bitcoin's network activity is booming, even as its price remains stable, trading around $104,300 after a slight decline. On June 5, data revealed a surge in network activity, with new wallet creations reaching their highest since December 2023. This signals a broader usage despite the static price.

Notably, June 2 saw over 241,360 BTC change hands, marking the busiest day since December 2024. Such high turnover often coincides with increased network traffic. Big players, or 'whales', increased their holdings significantly, indicating potential upward price pressure. Additionally, mid-tier investors are stacking up coins, leading to decreased exchange supply.