Bitcoin has experienced significant price fluctuations lately, seeing a surge in market value on Sunday followed by a substantial downturn on Monday. Despite this volatility, optimism for a rebound remains strong, fueled by FOMO (fear of missing out) and the actions of profit-driven investors, which are influencing Bitcoin's price trends.

There is a bullish sentiment among Bitcoin investors as a pattern of accumulation is indicated by the continuous decrease in exchange balances. Investors have purchased over 27,976 BTC in the past week, totaling more than $2.88 billion, leading to a reduced available supply of around 3 million BTC. Many investors believe that Bitcoin has not yet reached its all-time high (ATH), prompting further investment as they view the current price levels as a fleeting opportunity.

The IOMAP (In/Out of the Money Around Price) data points to robust support for Bitcoin in the $102,886 to $99,894 range, where investors have accumulated over 398,590 BTC worth more than $41 billion. This accumulation zone is seen as a strong buying area, with investors holding their positions in anticipation of Bitcoin's next upward movement.

At its current price of $102,907, Bitcoin is just above the crucial support level of $102,734. Despite a recent 3.3% decline, further drops are deemed unlikely due to the strong demand zone near this level, indicating short-term stability. There is anticipation of a price rebound, with investor accumulation likely to drive Bitcoin towards the $105,000 level and beyond, potentially inching closer to its ATH of $109,588, which is only 6.5% away.

However, if long-term holders (LTHs) opt to sell their holdings to secure profits, it could lead to a decline below the critical support level of $102,734, possibly pushing the price down to around $100,000.