Bitcoin adoption narratives have hit a new high amid the escalating war dynamics. Investors pivot, and attention towards Bitcoin has increased as of late, with more and more investors busy exploring the asset to its fullest. A new data snippet suggests BTC is now being aggressively explored, with the new BTC non-empty wallet count jumping to 58M.

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Bitcoin Adoption Is Steadily Rising

The recent Iran-US war has taken a lethal turn. With the war elements escalating at a rapid pace, investors are busy rummaging for the safest ways through which they can explore and safeguard their investments. Bitcoin has recently emerged as a unique safe haven amid the chaos, with a new report by Santiment mirroring the same dynamic. The report adds how the Bitcoin non-empty wallet count has jumped to 58M. Moreover, the amount of Bitcoin on known exchanges has now fallen, suggesting the majority of the tokens have now been moved to private wallets.

“Bitcoin has now seen its network climb to a new all-time high of 58.45M separate non-empty wallets. Additionally, the amount of $BTC on known exchange wallets has fallen to the lowest level since December 2017. Adoption is still rising, as is offline storage.”

This rising number is indicative of steady Bitcoin adoption, suggesting how the asset is slowly making its way into the mainstream alongside other established assets.

In addition to this, Bitcoin’s move past $70K has helped the crypto fear and greed index to improve a little. The index is now steady at 22, still gripped in fear, but suggestive of steady improvements.

BTC Future Path

According to Crypto Patel, Bitcoin price and adoption is steadily rising. Patel gave a reference to Japan’s Metaplanet, a firm whose stock has surged 4000% since officially adopting BTC.

Patel later shared a snapshot BTC forecast, stating how Bitcoin is showing prospects of hitting $89K to $98K in the near future.

“Currently #BTC is showing a strong bounce from the $59800 level, which was near the 0.382 Fib level ($56,720). Here’s What Happens Next. SCENARIO 1 – BULLISH. If the price breaks above the bearish OB at $89,300 to $98,000, that confirms the end of the bearish trend. New ATH incoming, and measured move targets are $158K, $327K, and $500K+. Even CZ sees $500K to $1M Bitcoin. 2⃣ SCENARIO 2 – BEARISH. If BTC gets rejected from the bearish OB ($89,300 to $98,000), expect a revisit to 0.5 Fib ($44,262) or 0.618 Fib ($34,540). The mean 0.382 Fib support will decide between $45,000 or $35,000 bearish targets. These levels will be the BEST accumulation zones for the long run.”

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