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

Previously, on May 7, Glassnode data indicated that both short-term and long-term holders of Bitcoin were increasing their holdings. Since the beginning of March, long-term holders have added over 250,000 BTC, bringing the total holdings of this group to over 14 million, which suggests 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%, it may trigger profit-taking. As the price approaches this area, selling pressure will intensify, and strong buying is needed to absorb the selling pressure to maintain upward momentum.