Bitcoin held above $81,000 on the latest 24-hour chart, trading at $81,720.42 after a 1.09% gain, while lower volume and fresh debate around Paul Sztorc’s proposed eCash fork kept the market watchful. The chart showed an uneven session. Bitcoin first slipped into the red near the $80,750 to $80,880 area before buyers stepped in and pushed the price back above the prior level.
From there, the move became steadier. The asset spent most of the session in positive territory and repeatedly tested the $81,000 zone before moving closer to $81,750. Market data showed a mixed picture behind the rebound. Bitcoin’s market capitalization rose 1.05% to $1.63 trillion, but 24-hour trading volume fell 17.36% to $39.1 billion.
That left the volume-to-market-cap ratio at 2.39%, suggesting the price recovery came with thinner participation than a stronger breakout would usually show. Bitcoin’s fully diluted valuation stood at $1.71 trillion. Its total and circulating supply were both listed at 20.02 million BTC, close to the network’s fixed 21 million BTC limit.
The latest move placed Bitcoin in a sensitive technical area. Price has improved, but several market indicators still point to caution rather than broad enthusiasm. On-chain data showed that user activity has not followed price with the same strength. Active addresses and transaction activity remain below levels often seen during major retail-driven rallies.
That gap matters because it suggests the current advance may rely more on larger investors and institutional flows than widespread retail demand. Spot Bitcoin ETFs have played a major role in that backdrop. Billions in inflows have helped support Bitcoin above important price areas, even as activity across the network remains softer.
Derivatives data also showed restraint. Futures activity and speculative leverage have stayed lower than in previous breakout cycles, meaning traders have not rushed into aggressive risk positions. Sentiment remained balanced as well. The Crypto Fear & Greed Index stood at 50, placing the market in neutral territory.
Away from the chart, a proposed Bitcoin fork has started another debate inside the ecosystem. Paul Sztorc, founder and CEO of LayerTwo Labs, plans a hard fork at block height 964,000. The new chain would be called eCash and would carry its own native tokens.
Under the proposal, holders would receive an equivalent balance on the separate network. A coin separation tool would also help users avoid mixing BTC with the new eCash asset. The project would keep most of Bitcoin’s existing structure. Still, it would add Drivechains, an extension model Sztorc first proposed in 2015 and later presented through BIP300 and BIP301.
Sztorc says eCash would not follow the same path as Bitcoin Cash in 2017. Instead of focusing mainly on block-size changes, the project would target a broader set of technical uses. The proposed chain would include seven Drivechains already in development. They include a privacy chain inspired by Zcash, along with Truthcoin, CoinShift, and Photon.
Each project targets a different use case. Truthcoin would focus on prediction markets. CoinShift would support decentralized exchange activity. Photon would aim at quantum computer resistance.
Read More: Bitcoin Leads April Recovery as Ethereum Demand Falls Behind
The most sensitive part of the plan involves launch funding. Sztorc wants to use coins sent to equivalent Satoshi Nakamoto addresses on eCash.
He argues that this would attract early investors and give contributors a clear incentive before launch. Without that funding route, he says the project could risk becoming incomplete or too centralized.
The issue has drawn attention because eCash would adopt Bitcoin’s full history. That means Satoshi Nakamoto’s estimated 1.1 million coins would appear as an equivalent balance on the new chain.
Bitcoin’s recovery above $81,000 showed renewed buyer support, but weaker volume, neutral sentiment, and slower on-chain activity kept the rally cautious. Meanwhile, Paul Sztorc’s eCash fork plan added a fresh technical and governance debate across the Bitcoin ecosystem.