Bitcoin’s $106,600 Cost Basis Identified as Critical Short-Term Level by Glassnode
Glassnode's latest on-chain analysis has pinpointed $106,600 as a pivotal price level for Bitcoin, with a notable concentration of investor cost basis near current all-time highs. The analytics firm's Cost Basis Distribution metric indicates thin supply density above $101,500, highlighting limited historic buying activity at these elevated levels. Market participants are closely monitoring this technical zone as Bitcoin continues to trade near its peak. This development underscores the importance of $106,600 as a potential short-term support or resistance level, depending on market momentum. As of August 13, 2025, this insight provides traders and investors with a key reference point for navigating Bitcoin's price action in the coming weeks.
Bitcoin's $106,600 Cost Basis Emerges as Key Short-Term Level, Glassnode Reports
Glassnode's latest on-chain analysis highlights $106,600 as a critical Bitcoin price level, with significant investor cost basis concentration near current all-time highs. The analytics firm's Cost Basis Distribution metric reveals thin supply density above $101,500, suggesting limited historic buying activity at these elevated levels.
Market participants are closely watching this technical zone as bitcoin flirts with record territory. The $106,600 level represents a psychological and structural threshold where early profit-taking could emerge, while a decisive breakout might trigger accelerated buying from underinvested institutional players.
Bitcoin Spot Volumes on Binance Turn Positive as BTC Holds Above $100K
Binance's Bitcoin spot trading volume has flipped to net positive after a recent market correction, signaling renewed bullish sentiment. The shift indicates buying pressure now outweighs selling activity on the world's largest crypto exchange—a notable development as BTC sustains prices above the $100,000 psychological threshold.
Analysts interpret positive net volume delta as a potential precursor to fresh capital inflows or accumulation by existing holders. "This isn't just about increased buying," observes CryptoQuant's Darkfost_CocLink, "but more critically, a material reduction in sell-side pressure." The metric often precedes upward price momentum when spot markets lead the charge.
Top Cryptocurrencies Nearing All-Time Highs Amid Market Volatility
Bitcoin is testing the $105,000 resistance level once again after a failed attempt last week. The global cryptocurrency market capitalization has climbed to $3.47 trillion, signaling renewed bullish momentum across digital assets.
Market sentiment faced temporary pressure following Moody's downgrade of US government creditworthiness, reflecting concerns over national debt levels. However, anticipation of potential Federal Reserve rate cuts has reignited risk appetite among investors.
A dovish shift in monetary policy could fuel capital inflows into cryptocurrencies, as lower borrowing costs typically encourage speculative investments. The market appears poised for significant movement, with several major digital assets approaching their historical price peaks.
Vanguard May Reconsider Bitcoin ETF Trading If BTC Surpasses $150k
Vanguard could reverse its stance on Bitcoin ETF trading if the cryptocurrency's price reaches the $150,000 to $200,000 range, according to Bloomberg Intelligence analyst Eric Balchunas. Client demand and leadership changes may force the asset management giant to relent.
Salim Ramji, Vanguard's current CEO and former head of BlackRock's ETF business, played a key role in launching the IBIT spot Bitcoin ETF. His experience with crypto products could influence Vanguard's eventual acceptance of Bitcoin ETFs on its platform.
Market observers note the irony of Vanguard's resistance while its competitors embrace cryptocurrency products. The firm maintains its anti-crypto position even as BlackRock's IBIT becomes one of the most successful ETF launches in history.
India’s Supreme Court Presses Government for Clear Crypto Regulations
India's Supreme Court has sharply questioned the central government's failure to establish definitive cryptocurrency regulations. The judicial rebuke came during proceedings involving a crypto fraud case, with justices comparing unregulated Bitcoin trading to a "more polished FORM of Hawala."
The bench emphasized that regulatory oversight could mitigate illicit use while acknowledging cryptocurrency's potential economic impact. This judicial intervention highlights growing institutional recognition of digital assets' systemic importance, even as regulators struggle to keep pace with market developments.
DigiAsia's $100M Bitcoin Bet Sparks 91% Stock Surge Amid Market Volatility
DigiAsia's audacious $100 million Bitcoin acquisition strategy has electrified financial markets, propelling its FAAS-listed shares up 91% in a single session. The MOVE signals growing institutional confidence in cryptocurrency despite persistent regulatory headwinds and price fluctuations.
Corporate treasury allocations to Bitcoin are gaining momentum as digital assets mature. DigiAsia's timing appears calculated, with analysts noting the announcement coincides with bullish technical indicators for BTC. "This isn't mere speculation—it's a strategic reserve asset play," remarked one Singapore-based fund manager.
