The price of Bitcoin struggled to maintain its position above $70,000 on May 22, with Glassnode analysts indicating that the leading cryptocurrency is gearing up for a significant upward movement. Bitcoin's price has been on a steady rise after a prolonged downtrend from its all-time highs, reaching a low of $56,500 on May 1. Recent data suggests a shift in distribution dynamics, with decreasing sell-side pressure and a reduction in volatility, contributing to the current price recovery. Glassnode's analysis also highlights changes in on-chain metrics, indicating a shift in investor behavior towards holding for higher prices. Overall, Bitcoin's market outlook seems positive, with key metrics aligning for a potential substantial price increase.