On May 8, 2023, OKX market data showed that Bitcoin briefly surpassed $99,000, with the current quote at $99,037, a 24-hour increase of 2.15%.

Previously, on May 7, Glassnode data indicated that both short-term and long-term Bitcoin holders were increasing their holdings. Since the beginning of March, long-term holders have added more than 250,000 BTC, bringing the total holdings of this group to over 14 million, indicating that market confidence is recovering. However, Glassnode also pointed out that there is significant resistance at $99,900, and when long-term holders have not realized profits reaching 350%, profit-taking may trigger increased selling pressure as the price approaches this area. Strong buying pressure is needed to absorb the selling pressure in order to maintain upward momentum.