Bitcoin (BTC) price rebounded above $108,000 on June 25 for the first time after recovering from the previous dip below $100,000 amid geopolitical tensions. The recovery rally came as fresh institutional buying reports surfaced, fueling cautious optimism across the market. However, bears continue to pressure the token, forcing BTC to pare gains and drop below the $108,000 mark.
Despite fading spot volumes, traders appeared to lean on long-term accumulation trends and ETF inflow stability to frame the rebound as a healthy retest.
A closer look at Bitcoin’s structural strength shows the recent move may owe more to on-chain positioning than short-term sentiment. According to Glassnode’s latest weekly report, BTC continues to trade above a critical support range between $93,000 and $100,000, built through concentrated accumulation in Q1 2025, offering a key foundation for the ongoing bull trend.
Support Zone Between $93K and $100K Remains Intact
Glassnode’s Week 25 report identified the $93,000 to $100,000 range as Bitcoin’s strongest current support, citing dense accumulation in this band during Q1 2025.
The platform’s Coinblocks Density (CBD) heatmap highlights this range as structurally significant. It shows that long-term holders and large entities absorbed substantial supply when BTC price was consolidating after its Q1 breakout.
Despite heightened volatility and geopolitical risk shaking the broader crypto market in recent weeks, Bitcoin has repeatedly defended this zone. Glassnode analysts pointed out that this behavior mirrors prior cycles, where structurally significant accumulation ranges offered downside protection even as short-term sentiment deteriorated.
Glassnode notes that Bitcoin price’s continued trade above this support maintains the bullish macro structure. However, a clean breakdown below this zone would threaten that narrative and potentially shift market bias to a more defensive posture. As of now, there is no conclusive signal of distribution at this level, and the base remains active, though quieter.
This $93,000–$100,000 region has effectively become a line of defense, not just technically, but in terms of holder conviction. It reflects a zone where conviction-driven capital entered the market, and price stability here suggests those holders have not meaningfully exited.
As long as Bitcoin trades above this structural band, though tested, bullish momentum remains intact. However, a sustained breakdown would raise the odds of a deeper retracement. This is especially the case in light of declining spot volume and weakening derivatives conviction.
Bitcoin Technical Charts Confirm Support Respect Near $100K
Recent technical chart setups validate the $93k–$100k structural support zone identified by Glassnode.
TrendSpider flagged a cup-and-handle formation on Bitcoin’s daily chart. This is a bullish continuation pattern that often signals a breakout once the handle consolidates near resistance.
The base of the handle coincides with the lower edge of Glassnode’s high-density accumulation band. This reinforces the key support narrative from both a price and supply perspective.
Mark, another analyst, presented a falling channel formation that captured Bitcoin’s recent pullback from $109k. The asset has since rebounded from the channel’s lower boundary—around $98k. This further validated the area as structurally significant.
The current breakout attempt is testing the upper edge near $108k, suggesting that bulls are attempting to reclaim directional control.
Meanwhile, analyst Crypto King noted that the lack of escalation in macro risks, such as Fed commentary or conflict in the Middle East. He proposed that this allowed BTC to rebound without triggering significant volume spikes. Crypto King speculated a potential breakout but capped his outlook at $112,000 this quarter, suggesting upside may remain constrained unless conviction returns.
It seems likely that as long as Bitcoin holds above its high-conviction accumulation zone, the bullish structure will remain intact, even if market participation continues to cool.
