{"id":6603,"date":"2025-08-24T05:00:31","date_gmt":"2025-08-24T05:00:31","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-on-chain-model-shows-critical-support-at-104000-108000-details\/"},"modified":"2025-08-24T05:00:31","modified_gmt":"2025-08-24T05:00:31","slug":"bitcoin-on-chain-model-shows-critical-support-at-104000-108000-details","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-on-chain-model-shows-critical-support-at-104000-108000-details\/","title":{"rendered":"Bitcoin On-Chain Model Shows Critical Support At $104,000-$108,000 \u2013 Details"},"content":{"rendered":"

Prominent analytics firm Glassnode has shared new on-chain insights into the Bitcoin market, pointing to the next major support zone amid a euphoric market mood on Friday. The world\u2019s leading cryptocurrency briefly surged to above $117,000 after comments from US Federal Reserve Chairman Jerome Powell signaled a possible shift away from the central bank\u2019s long-standing hawkish stance.\n<\/p>\n

Bitcoin\u2019s Crucial Defense Level At $104,000\u2013$108,000: Data<\/b><\/h2>\n

In an X post<\/a> on August 22, Glassnode explains that Bitcoin\u2019s UTXO Realized Price Distribution (URPD) suggests the $104,000\u2013$108,000 range has emerged as a critical support zone, backed by significant investor activity. Notably, more than 1.15 million BTC were accumulated within this price band over the past year, creating a dense cluster of realized prices that may act as a strong floor for the market.\n<\/p>\n

\"Bitcoin\"<\/p>\n

For context, the URPD model tracks the distribution of Bitcoin\u2019s supply across different price levels, effectively highlighting where coins last changed hands. Heavy accumulation within a narrow range often translates into robust support, as holders who bought at those levels are less likely to sell at a loss. <\/p>\n

Currently, Bitcoin is trading near $116,000 after a slight retracement following the price rebound on Friday.\u00a0 In the event of a further correction, prices are likely to retest the $104,000\u2013$108,000 range, which currently holds the largest cluster of realized prices below the present spot market price, underscoring the importance of this support zone in the short-term outlook.\n<\/p>\n

Powell\u2019s Policy Shift Drives $300 Million To Bitcoin Futures Market<\/b><\/h2>\n

In other developments, CryptoQuant analyst Darkfost reported<\/a> a sharp surge in Bitcoin derivatives activity after Federal Reserve Chairman Jerome Powell hinted at a potential shift in monetary policy during his speech<\/a> at the Jackson Hole Economic Symposium in Wyoming. Powell suggested that the Fed may be preparing to adjust its stance, citing the economy’s baseline outlook and evolving risk dynamics.<\/p>\n

The Fed Chair said:<\/p>\n

\n

Our policy rate is now 100 basis points closer to neutral than it was a year ago, and the stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance. Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.<\/p>\n<\/blockquote>\n

Within 15 minutes of this speech, Darkfost noted that nearly $300 million flowed into Bitcoin futures products, pushing Binance\u2019s BTC Open Interest to about $13.3 billion. The spike reflects investors’ positioning for potential interest rate cuts at the upcoming FOMC meeting in September after Powell\u2019s hint of potential easing of the Fed’s monetary policy.<\/p>\n

At press time, Bitcoin trades at $115,850, reflecting a price gain of 2.25% in the past 24 hours despite recent gains.\n<\/p>\n

\"Bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Prominent analytics firm Glassnode has shared new on-chain insights into the Bitcoin market, pointing to the next major support zone amid a euphoric market mood on Friday. The world\u2019s leading cryptocurrency briefly surged to above $117,000 after comments from US Federal Reserve Chairman Jerome Powell signaled a possible shift away from the central bank\u2019s long-standing…<\/p>\n","protected":false},"author":1,"featured_media":6604,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[22,35,36,263,3157,381,952,1971,2287,568],"class_list":["post-6603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-cryptoquant","tag-darkfost","tag-federal-reserve","tag-glassnode","tag-jerome-powell","tag-urpd","tag-utxo"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/6603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=6603"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/6603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/6604"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=6603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=6603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=6603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}