On-chain analytics firm Glassnode has identified $108,500 as Bitcoin’s next major resistance level, citing investor cost bases and historical price behavior as the cryptocurrency edges closer to new record highs.
Bitcoin is currently trading near $105,073 USD, marking a 2% rise in the last 24 hours amid renewed institutional demand and growing inflows into spot Bitcoin ETFs.
According to Glassnode’s latest report, the 85th percentile cost basis for long-term holders sits near $108,500, a zone that has historically acted as a psychological and technical ceiling during prior bull cycles.
“Bitcoin drifts after rebound… next resistance is $108,500,” Glassnode stated, underscoring this threshold as a critical point in recovery phases.
Analysts suggest that a clear break above this level could open the door to a sustained rally toward $120,000, driven by macroeconomic optimism and expanding institutional participation. Conversely, failure to breach may lead to a short-term price consolidation before the next move.
Trading activity has surged alongside price action, with daily volume jumping nearly 70% to $70 billion, reflecting heightened investor engagement as Bitcoin retests crucial resistance zones.
Market participants continue to monitor on-chain data closely as Bitcoin’s next move could define the trajectory of the ongoing bullish phase.
