Price Analysis View Non-AMP

Bitcoin Price Struggles at $108.5k, What’s Next for BTC?

Published by
Shrishesh Tanksalkar

Bitcoin price has dropped amid renewed regulatory concerns surrounding pending U.S. crypto legislation and BTC’s inability to decisively break above technical resistance. Despite bullish MACD signals earlier this week, BTC failed to hold above the critical $108,500 pivot point. 

However, on the brighter side, the institutional sentiment remains strong. Japanese investment giant Metaplanet acquired an additional 2,205 BTC for $239 million yesterday, taking its total holdings to 15,555 BTC. Curious where Bitcoin price is heading in the near future? Then this price analysis is a must-read for you.

OnChain Suggests Short-Term Sell Pressure?

The Exchange Flow Balance chart from Santiment, shows a recent positive net inflow of 217 BTC. This marks a shift from the previous outflows observed in late June. This change suggests that more Bitcoin is moving onto exchanges, typically a bearish signal as it may indicate an intent to sell. The uptick in inflows aligns with Bitcoin’s price rejection near the $108,500 resistance, justifying near-term caution among traders amid mounting regulatory uncertainty.

Bitcoin (BTC) Price Analysis

As of press time, Bitcoin is being sold at $108,071.64, with a 0.93% price loss over the previous day. The market cap has also fallen to $2.14 trillion, while the intraday business volume surged 18.57% to $44.24 billion, signaling heightened trader activity around key levels.

On the 4-hour chart, the price is currently testing the midline of the Bollinger Bands, with resistance at $110,046 and support near $106,890, forming a squeeze pattern. This suggests a potential breakout, but the direction remains uncertain. The RSI is hovering at 47.97, below the neutral 50 level, hinting at dwindling momentum. 

It is worth noting that, despite bullish efforts, the failure to close above the 20-SMA at $108,428 and the upper Bollinger Band points to strong overhead resistance. If bulls reclaim $109,200, a test of $110,000 is likely. On the downside, a loss of the $107,600 level could lead to a retest of $106,890.

If you are a hodler, you cannot miss out on our Bitcoin (BTC) Price Prediction 2025, 2026-2030!

FAQs

Why is Bitcoin facing resistance near $108,500?

Bitcoin is encountering resistance due to selling pressure near the upper Bollinger Band and the 20-SMA, with RSI weakness adding to the bearish outlook.

What is Bitcoin price today?

At the time of press, the price of 1 Bitcoin is at $108,071.64, with an intraday price change of +1.07%.

What is Bitcoin price prediction for this week?

The resistance lies at $110,046, while $106,890 is the critical support.

Shrishesh Tanksalkar

Shrishesh is a versatile writer with 2+ years of experience in cryptocurrencies. An engineer turned storyteller, this selective introvert is a wannabe biker on weekends.

Recent Posts

Three Whale Approved Altcoins To Buy Before October

Crypto whales, often seen as the "smart money" in digital assets, have been loading up…

September 28, 2025

XRP Price Prediction After October 2025 ETF Approvals

The crypto market is watching October closely as the SEC faces deadlines for multiple ETF…

September 28, 2025

New XRP ETF Filing Warns of Whale Manipulation Risk

A fresh ETF filing with the U.S. Securities and Exchange Commission (SEC) has flagged whale…

September 28, 2025

CZ Clarifies Binance Has No Official Role in Aster DEX’s Rapid Growth

The cryptocurrency world loves rumors, and lately, many have been circulating about Binance founder Changpeng…

September 28, 2025

Crypto Treasuries Companies May Crash Markets Nearly 80%, Like Dotcoms!

Crypto treasuries have become the talk of this market cycle, with institutions and corporations scooping…

September 28, 2025

Dogecoin Price at Risk: 20% Drop Looms if Bulls Fail to Reignite Momentum

Dogecoin (DOGE) has recently pushed past the $0.24 mark, signaling renewed strength in its price…

September 28, 2025