{"id":9370,"date":"2025-09-01T07:23:03","date_gmt":"2025-09-01T07:23:03","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-price-drops-below-108k-but-on-chain-metrics-signal-strength\/"},"modified":"2025-09-01T07:23:09","modified_gmt":"2025-09-01T07:23:09","slug":"bitcoin-price-drops-below-108k-but-on-chain-metrics-signal-strength","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-price-drops-below-108k-but-on-chain-metrics-signal-strength\/","title":{"rendered":"Bitcoin price drops below $108K but on-chain metrics signal strength"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin price has fallen below $108,000 but on-chain and trading data suggest the market is holding firm, with institutional demand and technical signals pointing to a resilient setup.<\/p>\n<div id=\"cn-block-summary-block_f8fd0a121471c07a93dd05e7de66445d\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin trades at $107,820, down 13% from August\u2019s all-time high.<\/li>\n<li>Spot and derivatives volumes jumped, showing stronger market activity.<\/li>\n<li>On-chain data and technical indicators highlight structural support.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bitcoin (BTC) slipped to $107,820 on Monday, marking a 1% decline in the past 24 hours. The asset has traded between $107,414 and $113,220 over the past week, leaving it down 4% in seven days and 5.4% in the last month. From its Aug. 14 peak of $124,128, Bitcoin now sits 13% lower.<\/p>\n<p>Market activity has increased despite the price pullback. Spot trading volume rose 30% in the last day to $30.6 billion, while derivatives <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/BTC\" target=\"_blank\">data<\/a> from Coinglass showed a sharp rise in participation.<\/p>\n<p>Futures volume climbed 44.55% to $58.42 billion and open interest edged higher to $80.41 billion. This combination suggests new positions are being opened, rather than old ones being closed, pointing to higher conviction among active traders.<\/p>\n<h2 class=\"wp-block-heading\">On-chain signals show strong support<\/h2>\n<p>According to a Sept. 1 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/68b4be07ff47c52ba0ab26d1-Bitcoin-On-Chain-Metrics-Signal-Strength-Beneath-the-Surface\" target=\"_blank\">analysis<\/a> by CryptoQuant contributor XWIN Research Japan, two structural indicators, Delta Cap and the Coinbase Premium Gap, continue to reinforce Bitcoin\u2019s underlying strength.<\/p>\n<p>Delta Cap, which is currently $739.4 billion with an implied price of $108,900, is determined by the difference between Realized Cap and Average Cap. In the past, this metric has served as a cycle floor, helping to identify periods when consistent capital inflows supported the value of Bitcoin. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The fact that Bitcoin\u2019s spot price is comfortably above Delta Cap suggests that investors remain confident despite short-term corrections,\u00a0<\/p>\n<p>The Coinbase Premium Gap, which compares the prices of Coinbase and Binance, is currently at +11.6. A positive premium indicates stronger demand from U.S. institutions willing to pay more for Bitcoin. In previous cycles, sustained premiums often preceded upward legs, suggesting new institutional accumulation.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin price technical analysis<\/h2>\n<p>The BTC market is consolidating just above a key psychological support at $107,000.\u00a0On the daily chart, Bitcoin is moving along the lower band of its Bollinger range, suggesting that it is in near-term oversold conditions.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Bitcoin daily chart. Credit: crypto.news<\/figcaption><\/figure>\n<p>The relative strength index is close to neutral but leans lower, so if buying momentum picks up, there could be a bounce. The MACD signals are flattening, which often precedes a potential reversal, but they are still a little bearish. <\/p>\n<p>A sustained move above $110,000 may open the door to $113,000 and eventually retests around $118,000, but a break below $107,000 increases the likelihood of a decline toward $104,000.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has fallen below $108,000 but on-chain and trading data suggest the market is holding firm, with institutional demand and technical signals pointing to a resilient setup. Summary Bitcoin&hellip;<\/p>\n","protected":false},"author":1,"featured_media":9128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=9370"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9370\/revisions"}],"predecessor-version":[{"id":9371,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9370\/revisions\/9371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/9128"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=9370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=9370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=9370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}