$BTC

Although this is not the all-time high for this currency, it is an important price point that could influence the next peak of this leading cryptocurrency by market capitalization.

According to the Binance exchange, at 8:05 AM on May 12th, according to Vietnam time, the price of Bitcoin rose by 0.34% to 105,032 USD, before dropping to 104,495 USD a few minutes later.

In the past week, more than 30,072 bitcoins, worth over 3.13 billion USD, have been purchased, signaling an accumulation move by investors. However, the long-term trend indicates that long-term holders are beginning to sell off.

The fluctuations are recorded against the backdrop of Bitcoin's price approaching an important psychological threshold, known as being within the support and resistance zones. This is a price level heavily influenced by the psychology of investors, such as herd mentality, greed, fear, and hope.