PANews reported on May 19th that according to BeInCrypto citing glassnode's IOMAP indicator, data shows that investors have accumulated 27,976 bitcoins over the past week, with a total value exceeding $2.88 billion, reducing the circulating supply to approximately 3 million coins.
The IOMAP indicator reveals that Bitcoin has formed a strong support between $102,886 and $99,894, with investors holding over 398,590 bitcoins in this range, valued at than support a strong for strong buying investors to and wait and for price increases. Despite today's 3.3% drop, due, to demand is likely. Bitcoin previously briefly touched $107,108, and potentially break through $105,000 again forming consolidation above $102,734 toave increases.
However, if long-term holders choose to take profits, Bitcoin might break below the $102,734 support level and further explore the $100,000 range. The market sentiment remains overallish bullinvestors' behaviorsmay drive Bitcoin gradually closer to its historical high of of $of $109,,109just about 6.5% away.
