Bitcoin’s price took a hit this Monday, wiping out gains made just a day earlier. Yet, strong investor activity has helped prevent deeper losses.
Over the past week, Bitcoin holders have scooped up nearly 28,000 BTC, worth about $2.88 billion. This large-scale buying has cut the available supply to around 3 million BTC. Investors see the current price range as a rare chance to get in before a possible climb to new highs.
According to on-chain data, Bitcoin has strong support between $99,894 and $102,886. In this zone, investors have gathered over 398,000 BTC valued at more than $41 billion. This level is now viewed as a solid buying base. Many holders are choosing to sit tight, waiting for a price rebound rather than selling off.
Bitcoin is now trading at $102,907, just above a key support level of $102,734. Even though the price dropped 3.3% today, a strong demand zone just below is helping to stabilize it. Earlier today, Bitcoin briefly touched $107,108, showing its potential to bounce back.
If investor confidence holds, Bitcoin could soon move above $105,000 and continue its push toward its all-time high of $109,588. That level is just 6.5% away.
Still, there’s a risk. If long-term holders start selling to take profits, Bitcoin could slip below support and test the $100,000 mark. For now, though, the outlook remains bullish.
