Bitcoin’s price has fallen below the $108,000 threshold, marking a drop of 1% in the past 24 hours. Despite this decline, on-chain data and trading activity suggest market resilience, with institutional demand and technical indicators pointing to a stable setup. The recent drop follows Bitcoin’s retreat from its all-time high of $124,128 in August, leaving it down 13%. This price pullback comes despite increased market activity, particularly a surge in spot trading volume (up 30%) and derivatives data showing a rise in participation. On-chain analysis suggests the presence of structural support. CryptoQuant contributor XWIN Research Japan highlights two key indicators: Delta Cap, which is currently hovering at $739.4 billion with an implied price of $108,900. This metric has historically served as a cycle floor, reflecting consistent capital inflows and supporting Bitcoin’s value. The Coinbase Premium Gap also remains positive, indicating strong demand from U.S. institutions willing to pay more for Bitcoin. Both these indicators suggest that despite short-term fluctuations, investors remain confident in the asset’s long-term potential. Bitcoin price continues to consolidate near a key psychological support level at $107,000 on its daily chart. Its Bollinger range is showing signs of oversold conditions, while technical indicators like RSI and MACD offer mixed signals with the possibility of a rebound if buying momentum picks up.