Bitcoin Consolidates Near $106.2K, Key Resistance at $108.5K

Bitcoin’s price action shows signs of consolidation after a rebound from the 75th percentile cost basis around $100,000. It currently sits near $106.2K, but key levels remain in focus. A breakout above $108.5K could indicate a major shift in Bitcoin’s market structure. The current consolidation between $100K and $108K is critical as it often acts as a sentiment pivot for market participants. Strong hands are likely accumulating at these levels, while weak hands might be exiting.