Bitcoin News Today: Bitcoin Holds Strong Above Key On-Chain Floor Amid Dip

Bitcoin price has fallen below $108,000, marking a 13% decline from its August 14 all-time high of $124,128. As of the latest data, the price stands at approximately $107,820, with a 1% drop recorded in the past 24 hours. Over the past week, the cryptocurrency has traded within a range of $107,414 to $113,220, reflecting a 4% weekly decline and a 5.4% drop in the last month. Despite this downward trend, several on-chain metrics and market indicators suggest underlying strength in the Bitcoin market [1].

Market activity has increased, with spot trading volume rising 30% in the last day to $30.6 billion. Derivatives data also showed a 44.55% increase in futures volume, reaching $58.42 billion, while open interest climbed to $80.41 billion. This suggests that traders are opening new positions rather than closing existing ones, indicating a higher level of conviction in the current price range [1]. Analysts have noted that such activity is a positive sign, especially in a market that is consolidating after a significant price correction.

On-chain data further reinforces the structural support for Bitcoin’s price. The Delta Cap, a metric calculated as the difference between Realized Cap and Average Cap, currently stands at $739.4 billion with an implied price of $108,900. Historically, Delta Cap has acted as a cycle floor, signaling periods of consistent capital inflows [1]. The fact that Bitcoin’s current price remains above this level suggests that investor confidence is still intact, even amid short-term volatility.

Another key indicator, the Coinbase Premium Gap, currently at +11.6, reflects stronger demand from U.S. institutions. A positive premium historically has been associated with new institutional accumulation, often preceding upward price trends [1]. The continued presence of a positive premium in the current cycle suggests that institutional interest remains robust, potentially supporting a longer-term bullish scenario.

Technical analysis also highlights the resilience of Bitcoin’s price structure. The BTC market is consolidating just above the key psychological level of $107,000. On the daily chart, Bitcoin is moving along the lower band of its Bollinger range, indicating near-term oversold conditions. The relative strength index is close to neutral but trending lower, while the MACD signals are flattening, which often precedes a reversal [1]. A sustained move above $110,000 could pave the way for a retest of $118,000, whereas a break below $107,000 would increase the likelihood of a decline toward $104,000.

Crypto analysts are also observing signs that the Bitcoin price may be bottoming out. On-chain metrics such as capital inflow have shown a shift from outflows to positive inflows, suggesting that the market could be entering a stabilization phase [2]. Additionally, the Macro Cycle Risk indicator has formed a new lower high, indicating a drop in risk levels and a potential return of liquidity to the Bitcoin network. These signals, combined with a declining Risk-Off signal, suggest that investors are becoming less cautious and more open to risk assets, including cryptocurrencies [2].

Source: [1] Bitcoin price dips but on-chain metrics show strength (https://crypto.news/bitcoin-price-drops-on-chain-metrics-strong-2025/) [2] Bitcoin Price Staging A Comeback? On-Chain Signals ... (https://bitcoinist.com/bitcoin-price-staging-a-comeback-on-chain-signals/) [3] Bitcoin Price Lags Below $110K — On-Chain Levels To ... (https://www.mitrade.com/insights/news/live-news/article-3-1083022-20250831)