Bitcoin just went through a very volatile time. After a strong surge on Sunday, the price suddenly dropped on Monday, causing concern among investors. However, not everyone is pessimistic. Many still believe that Bitcoin can rise again, thanks to FOMO (fear of missing out) and investor greed that often drive the market up.
Investors Still Hopeful
A positive sign is that the amount of Bitcoin on exchanges is decreasing. This means more people are buying and holding, instead of selling. In the past week alone, over 27,976 BTC (around $2.88 billion) were bought and moved off exchanges. Now, only about 3 million BTC are left circulating in the market.
IOMAP Shows Strong Support Zone
A key indicator called IOMAP (In/Out of the Money Around Price) tracks where investors previously bought Bitcoin. According to IOMAP data, BTC has strong support between $99,894 and $102,886. In this range, about 398,590 BTC (worth over $41 billion) were bought.
This means many investors are holding tightly at these levels, hoping for higher prices. This area acts like a strong “defense line,” making it harder for Bitcoin to fall much lower.
BTC Could Bounce Back if Buying Power Stays Strong
Currently, Bitcoin is trading around $102,907, close to the key support level of $102,734. Although it dropped 3.3% today, many buyers are ready to jump in at this price, helping to keep the market stable.
Earlier today, Bitcoin briefly reached $107,108, which shows there’s still potential for recovery. If buying interest continues, BTC may soon break $105,000 and form a strong base above support. In a positive scenario, Bitcoin could even return to its previous all-time high of $109,588, which is just 6.5% away.
However, this bullish outlook could be challenged if long-term holders (LTHs) suddenly start taking profits. In that case, selling pressure could push BTC back down toward the $100,000 psychological level.
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