Bitcoin experienced a significant price surge recently, followed by a correction last week. The cryptocurrency is now striving to recover those losses and resume its upward trend.

The potential for this rebound appears promising due to robust investor support. This support is instrumental in stabilizing the market and instilling renewed confidence among traders.

Bitcoin investors are displaying optimism, with data indicating increased interest in BTC. There has been a notable rise in first-time buyers of Bitcoin, coinciding with periods of substantial price growth. This trend suggests that fresh capital influxes are reinforcing the market's foundation.

The ongoing influx of new investors signifies a growing belief in Bitcoin's future potential. This surge in capital can fuel price appreciation by boosting demand, especially when coupled with limited supply, exerting upward pressure on prices. Investors are looking favorably at Bitcoin's long-term prospects.

The HODLer Net Position Change metric underlines the continued bullish stance of long-term holders (LTHs). These holders play a crucial role in supporting prices by reducing the circulating supply through holding onto their coins. The accumulation trend among LTHs, depicted by persistent red bars in the indicator, indicates a consistent buying pattern that sustains price levels.

The steady accumulation by LTHs reflects their strong conviction, which helps Bitcoin withstand short-term market volatilities. The persistent buying pressure from these holders provides a solid base for sustained price uptrends.

Bitcoin's current price hovers around $109,160, slightly below the crucial resistance level of $110,000. It is crucial for Bitcoin to turn this resistance into support to continue its upward trajectory. Securing this level would reignite bullish sentiment and attract more buying interest.

Should Bitcoin maintain levels above $110,000, it could pave the way for surpassing its all-time high of $111,980. This breakthrough might lead to a rally towards $115,000 in the days ahead, driven by revitalized investor confidence and favorable market conditions.

However, a slowdown in LTH accumulation or increased selling pressure could exert downward force on Bitcoin's price. A breach below $106,265 may push the price towards $105,000, potentially altering the current bullish outlook and signaling caution to traders.