#BTCbelow100k The price of Bitcoin has once again surpassed 105,000 dollars, driven by the easing of tensions in the Middle East.

However, the most important aspect of the price increase was the market's ability to absorb a large wave of sales without collapsing the price.

The market has seen the sale of around 720,000 Bitcoins since mid-April, mostly by short-term holders.

According to blockchain analyst “Axel Adler Jr.”, these transactions have resulted in an increase of 66 billion dollars in the peak realized of coins held for less than a month, indicating significant profits by the sellers.

However, this wave did not trigger strong downward pressure, as it was absorbed by new buyers.

“Adler” notes that the strong demand has helped keep the price movement within a narrow range in recent weeks.

Additionally, the indicators of gains and losses on the UTXO network show a significant decrease in profitable selling operations, reflecting the possibility that the wave of sales may end and accumulation may return.

The recent improvement in the overall market sentiment is also attributed to the announcement of a ceasefire between Israel and Iran, which alleviated geopolitical fears.

This announcement boosted investor confidence, who showed cautious optimism about the possibility of restoring Bitcoin's upward momentum.