Bitcoin Stalls at $108,000 Today — Is BTC Gearing Up for a Breakout?

Jakarta, Pintu News – Bitcoin (BTC) has not been able to close above the $111,000 threshold since October 15, as price movements continue to fluctuate below that level.

Market data suggests that recovery opportunities are still open. However, strong selling pressure from long-term holders could be an obstacle to the potential rebound. So, how will Bitcoin price move today?

Bitcoin Price Up 0.52% in 24 Hours

As of October 23, 2025, Bitcoin was trading at $108,559, or approximately IDR 1,812,537,962—marking a modest 0.52% increase over the past 24 hours. During the same period, BTC dipped to a low of IDR 1,781,475,386 and peaked at IDR 1,817,079,264.

At the time of writing, Bitcoin’s market capitalization is estimated at around IDR 35,848 trillion, while its 24-hour trading volume has dropped by 27%, down to IDR 1,326 trillion.

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Bitcoin Ready to Strengthen?

CryptoQuant’s Bitcoin Combined Market Index (BCMI) shows that despite Bitcoin’s price weakness, its fundamental structure still remains strong.

For the uninitiated, BCMI combines several important indicators such as Market Value to Realized Value (MVRV), Net Unrealized Profit/Loss (NUPL), and Spent Output Profit Ratio (SOPR) to reflect valuation, profit-taking activity, and market sentiment.

As of October 22, the BCMI value stands at 0.5, indicating that Bitcoin is in the neutral zone or often referred to as themid-cycle equilibrium point.

Historically, this retest in the 0.45-0.5 range has often been a harbinger of a major expansion phase, where prices have risen after on-chain conditions have readjusted.

This pattern suggests that Bitcoin may be in a cooling phase before its momentum picks up again, potentially paving the way to break the $111,000 level again.

However, long-term holders still seem to be holding back and have not supported the recovery trend.

Long-term Holders Continue to Make Sales

Data from Glassnode confirms that long-term Bitcoin holders continue to distribute BTC consistently. Since October 15-when Bitcoin last closed above $111,000-the total supply held by this group has dropped by about 28,000 BTC.

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In addition, the data showed a significant spike in sales activity. Average daily sales by long-term holders increased from 12,500 BTC in July to 22,500 BTC per day in October.

This trend of increasing distribution, coupled with weakening confidence from holders who are still in profit, adds pressure to the short-term sentiment.

Data from CryptoQuant also showed thatunrealized losses stood at around $6.95 billion, indicating that many traders may exit their positions before a stronger recovery occurs.

Even so, accumulation from retail investors began to partially offset the distribution pressure.

Retail Investors Begin to Offset Pressure

Data from CoinGlass shows that retail traders have been net buyers since October 20, with Bitcoin purchases worth about $435 million in 48 hours-their largest inflow since October 10.

To date, the group has bought an additional $20 million worth of Bitcoin, showing a high level of confidence in the asset.

If accumulation at this level continues, it could potentially help withstand selling pressure from long-term holders and support Bitcoin’s momentum movement towards the next price rally.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AMB Crypto. Bitcoin: Long-term holders dump, retail loads up – Who wins in BTC’s next move? Accessed on October 23, 2025