<ul data-eligibleForWebStory="false"><li>Bitcoin is currently holding above $108,000 with bulls maintaining momentum, but on-chain data indicates fragility in this position.</li><li>Two crucial support levels at $106,738 and $98,566 have become vital for bulls to defend as they represent clusters of addresses holding significant amounts of Bitcoin.</li><li>On-chain data shows a slowing sell pressure among large holders, with Bitcoin witnessing net outflows from exchanges for the fifth consecutive week.</li><li>For Bitcoin to reach new highs, it needs to break a weekly resistance level just under $109,000 and achieve a weekly close above $108,890 to secure a more bullish stance.</li></ul>

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

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