Alright, degens. Bitcoin’s on-chain activity is popping off, and everyone’s losing their minds. Active addresses just hit 912,300—levels we haven’t seen since December 2024, back when BTC was chilling at $105K. Is this the bottom, or just another fakeout before the next rug pull? Let’s break it down.

ACTIVE ADDRESSES GO BRRRR

Glassnode says Bitcoin active addresses hit 912,300 on February 28. That’s the highest since mid-December. Historically, spikes like this often line up with market bottoms or peaks. IntoTheBlock put it bluntly on X:

“Panic sellers are bailing, and degens are loading up. Could be capitulation.”

But let’s be real—no single metric guarantees a reversal. This could just be another fakeout before the market screws us over again.

$80.5K: THE LINE IN THE SAND

Stella Zlatareva from Nexo (note: Nexo hasn't fucked us yet) said BTC needs to hold above $80,500 to avoid more pain. If it drops below? Expect chaos. A dip under $84K could trigger over $1 billion in long liquidations = Gape.

Meanwhile, Bitcoin’s MVRV Z-score is at 2.01, which means BTC is flirting with oversold territory. So, we’re probably closer to a bottom than a top. Maybe.

Both Chainsatlas CEO Jan Hanken and Hsu Chuan Li of Offchain Global think that we’re headed towards the 70s.

ALTSEASON 2025? DON’T HOLD YOUR BREATH

While we’re talking bottoms, let’s not forget: Most alts won’t make it. CryptoQuant’s CEO already called it—2025 might be all about BTC dominance, not altcoin euphoria. So, maybe think twice before YOLOing into that low-cap shitcoin.

BYBIT HACKERS STILL AT IT

Oh, and the Bybit hackers? They’re still moving stacks. They just laundered another 62,200 ETH ($138M), bringing the total to 343,000 ETH. That’s 68.7% of the stolen funds. The FBI’s on their tail, but let’s be honest—these guys are probably in North Korea, sipping soju and laughing at our KYC struggles.

WHAT’S NEXT?

• Bitcoin: Watch $80.5K. Break above = bullish. Break below = pain.
• Alts: Don’t get rekt chasing pumps. Most won’t survive.
• Bybit Hack: Expect the remaining $346M in ETH to be moved soon.

TL;DR: Bitcoin active addresses are pumping, which might signal a bottom. But in crypto, nothing’s guaranteed. Stay sharp, degens. And remember: Don’t invest what you can’t afford to lose.

rekt survivor out. 🚀