According to Glassnode’s UTXO Realized Price Distribution (URPD), this level signifies a significant cluster of investor positions, making it a crucial level for bulls to defend. In the event that this support level fails, analyst Martinez cautions that Bitcoin could quickly drop towards $97,405, where there has historically been a large concentration of buyer activity. Trader Daan Crypto Trades also raises caution about Bitcoin's weekly chart, noting indecisiveness following a failed breakout above $108K and a bounce from $100K in the previous week. Daan emphasizes the importance of Bitcoin breaking and holding above $108K for traders to remain optimistic, while also suggesting a cautious approach until then. Key levels to monitor include support at $104,124 (on-chain cluster) and $97,405, with resistance at $108,000 needed for renewed bullish confirmation. The previous all-time high near $104,775 continues to act as psychological resistance. Bitcoin's recent inability to reclaim $108K and its consolidation near $104K indicate a sense of uncertainty in the market. With significant realized volume at current levels, it is crucial for bulls to defend the $104K support to avoid further downside. Traders are advised to closely monitor both on-chain positioning and weekly technical structure as Bitcoin approaches a critical inflection point. If the $104K support level is breached, a drop towards $97K could be the next target for the price.