Bitcoin Price Faces Rising Weakness, Struggling Around $108,000

Bitcoin (BTC) is exhibiting growing structural weakness as it struggles to maintain momentum above key support levels, currently trading around $108,772. On-chain analysis using the Supply Quantiles model shows BTC is below the short-term holder cost basis of $113,100 and, more critically, below the 0.85 quantile at $108,600, a historical indicator of broader corrections. If this pattern continues, Bitcoin could retest the 0.75 quantile near $97,500.

Furthermore, macro momentum is cracking, evidenced by the 1-Month Volatility Risk Premium turning negative for the first time in four months, signaling a shift from low volatility to increased market reactivity. If Bitcoin fails to hold the $108,000 support, it could dip toward $105,585 or $105,000, deepening losses. Conversely, maintaining this level and bouncing could trigger a relief rally toward $110,000 and potentially $112,500.

(Source：BeInCrypto)