On May 8, 2023, OKX market data showed that Bitcoin briefly broke through $99,000, currently quoted at $99,037, with a 24-hour increase of 2.15%.

Previously, Glassnode data indicated that both short-term holders (STH) and long-term holders (LTH) have been increasing their holdings since early March, indicating a recovery in market confidence. This phenomenon of increased holdings across the entire market provides some support for Bitcoin's price breakout. However, Glassnode also pointed out that there is significant resistance at $99,900, and on-chain data shows that when LTHs have unrealized profits reaching 350%, it may trigger profit-taking, and selling pressure will intensify as it approaches that area, requiring strong buying to absorb the selling pressure in order to maintain upward momentum.