The post Bitcoin Stays Calm As Traders Eye $108,500 Breakout for New All-Time High appeared first on Coinpedia Fintech News
Bitcoin is sitting just below an important price level this week, but the market doesn’t look overly excited or panicked. Instead of rushing up with wild price swings, things seem calm and steady. Crypto analyst Crypto Dan says this shows the market is cooling, not overheating — and that could be a healthy sign.
At the same time, crypto traders are watching $108,500 closely, and even big names like Coinbase are now buying BTC every week.
Is this the calm before Bitcoin’s next breakout?
Analyst: No Signs of Panic or Hype
According to CryptoQuant analyst Crypto Dan, Bitcoin’s trading volume is showing signs of cooling. He shared a bubble chart that helps explain this — big circles mean high trading volume, and the colors show how fast the volume is changing.
Right now, the bubbles show the market is calm. There’s no sharp increase in buying or selling, which means people aren’t acting out of fear or greed. Instead, this steady pace may mean Bitcoin is building a stronger base before its next move.
Even though Bitcoin is holding near its all-time high, Crypto Dan believes it might still need some outside help to break higher. Things like interest rate cuts or clearer crypto regulations could be the boost it needs.
Traders Are Watching $108,500 Level
Adding bullishness to the sentiment, Crypto expert Michael van de Poppe says Bitcoin is resting now but could jump higher soon. He says the small pullback is normal and not a reason to worry.
Meanwhile, this sideways move can help Bitcoin gather power to break through the big resistance level at $108,500.
If that level is broken, many traders expect Bitcoin to shoot up quickly, possibly reaching $110,000 or more, just like it has done in the past when it cleared major hurdles.
Coinbase Is Buying Bitcoin Every Week
While things may look quiet on the surface, big players are taking action. Coinbase CEO Brian Armstrong recently said the company is buying Bitcoin every week. He also told his followers to “go long” on Bitcoin, which means holding it for the long run.
Coinbase now holds nearly $995 million worth of Bitcoin, making it the 10th-largest company with BTC holdings. This shows that institutions still believe in Bitcoin’s future and are preparing for what’s coming next.
As of now, Bitcoin is trading around $107k, reflecting a 0.71% drop seen in the last 24 hours, with a market cap hitting $2.13 trillion.