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Bitcoin’s next critical support level lies between $104,000 and $108,000, according to new on-chain data from Glassnode. The analysis comes as Federal Reserve Chair Jerome Powell’s dovish comments triggered a $300 million influx into Bitcoin futures. This dual catalyst of technical support and macroeconomic shifts is shaping Bitcoin’s short-term trajectory.
- Over 1.15 million BTC accumulated in $104K-$108K range creates strongest support cluster below current price
- Powell's Jackson Hole comments triggered $300 million Bitcoin futures inflow in 15 minutes
- URPD model shows where coins last changed hands, indicating potential price support levels
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