Bitcoin Price Analysis Today: Key Resistance at $113.6K Looms

Today's Bitcoin (BTC) price analysis reveals a cryptocurrency at an inflection point. As of Thursday, August 28, 2025, Bitcoin trades at $113,170, up 1.62% on the day but facing significant on-chain resistance that could determine its near-term trajectory.

Bitcoin Price Today And Current Market Data

Bitcoin's recovery from Tuesday's seven-week lows near $108,800 reflects renewed risk appetite following the S&P 500's fresh all-time highs and NVIDIA's better-than-expected earnings report. The bounce has lifted BTC back toward a crucial resistance zone that analytics firm Glassnode identifies as a potential turning point.

Key Bitcoin metrics:

• Current price: $113,170 (August 28, 2025)
• 24-hour change: +1.62%
• Weekly recovery: +4.1% from $108.8K lows
• Market dominance: 58.26% (-0.06%)
• ETF holdings: ~1.29 million BTC ($146+ billion AUM)

The cryptocurrency has recovered approximately 4% from Tuesday's lows but remains more than 9% below its August all-time high of $124,533.

Bitcoin Price Analysis: On-Chain Resistance at $113.6K

Cost Basis Analysis Reveals Key Level

The most significant finding in today's Bitcoin price analysis comes from Glassnode's cost basis distribution data. "Currently, Bitcoin trades beneath the cost basis of both the 1-month ($115.6k) and 3-month ($113.6k) cohorts, leaving these investors under stress," Glassnode reports.

This $113.6K level represents the average purchase price for investors who bought Bitcoin within the past three months. As the price approaches this threshold, "any relief rally is therefore likely to encounter resistance, as short-term holders seek to exit at breakeven".

Mixed Flow Dynamics Create Uncertainty

Timothy Misir from BRN Analytics highlights the conflicting signals: "Spot demand remains neutral, as perpetuals tilt bearish with CVD negative. The current funding rate of ~0.01% points to a fragile neutrality".

However, the derivatives positioning reveals concerning signs. Bitcoin's price recovery has coincided with declining open interest in USD and USDT-denominated perpetual futures across major exchanges, while spot trading volumes remain subdued.

Institutional Flows Provide Bullish Counterweight

Record ETF Inflows Support Price Floor

Despite technical headwinds, institutional demand continues absorbing significant Bitcoin supply. ETF flows show remarkable strength with $81.4 million in daily net inflows, while Ethereum ETFs attracted an even larger $307.2 million.

Paul Howard from Wincent notes the broader implications: "ETFs, corporates, and governments are now absorbing ~3,600 BTC/day, which translates to ~4x miner issuance". This structural demand helps explain Bitcoin's resilience despite technical challenges.

Corporate Adoption Accelerates

The corporate Bitcoin adoption trend continues expanding beyond traditional players. "Metaplanet announced a new plan to raise $881 million to buy $837 million BTC in Sep–Oct, adding to its 18,991 BTC," Misir reports.

This institutional accumulation pattern creates a supply squeeze dynamic where available Bitcoin becomes increasingly scarce on exchanges, potentially amplifying price movements in both directions.

Technical Analysis Shows Promise

Based on my technical analysis, Bitcoin has managed to return to the consolidation range observed since July and has moved above the May highs. This development once again opens the way for a potential test of the all-time highs, although the price may encounter several key resistance levels along the way.

My bullish outlook will remain intact as long as BTC does not fall below the 200 EMA and the psychological level of $100,000.

Key technical levels:

• Immediate resistance: $113.6K (3-month cost basis)
• Secondary resistance: $115.6K (1-month cost basis)
• Breakout target: $120,000
• Critical support: $107K (6-month cost basis)

Small-Cap Surge Outpaces Bitcoin

A notable development in today's analysis shows altcoins significantly outperforming Bitcoin. While the CoinDesk 20 Index gained just 0.82%, the CoinDesk 80 Index surged over 4%, suggesting investor rotation toward smaller cryptocurrencies.

Paul Howard from Wincent explains the broader trend: "The cryptocurrency market cap edged up above the $4 trillion driven by the potential of Solana ETF and Treasury company news alongside modest gains in $HYPE and $ETH".

"The expansion of treasury companies across the broader value chain has begun and where we see news on Solana, expect similar opportunities to pop lower down the market cap with eyes on AVAX, SUI, APTOS for the coming 6 months," Howard predicts.

This suggests the institutional adoption narrative is expanding beyond Bitcoin into major altcoins, potentially creating new leadership dynamics in the crypto market.

Bitcoin Price Prediction: September Outlook

Q3 Trading Range Maintained

Howard's analysis confirms Bitcoin remains within predicted parameters: "$BTC's bounce off $110k keeps it within our predicted $110,000-120,000 trading range for Q3. Those who scooped some at the monthly lows should be well positioned as we move into September".

Q4 All-Time High Expectations

Looking ahead, Howard anticipates significant moves: "It would be worth keeping eyes on the Bitcoin whale wallets who have been switching to $ETH this quarter as that looks to be where I expect more of the 'blue-chip' price action into Q4 where I expect we hit new all time highs in all the majors off the back of potential US rate cuts".

This suggests a two-phase scenario: continued range-bound trading through Q3 followed by potential breakouts in Q4 driven by Federal Reserve policy changes.

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FAQ: Bitcoin Price Analysis Today

What is the key resistance level for Bitcoin?

$113.6K represents the three-month cost basis where short-term holders may seek breakeven exits.

Are institutions still buying Bitcoin?

Yes. ETFs absorbed $81.4M daily with corporate buyers taking 3,600 BTC/day, roughly 4x miner issuance.

Why are altcoins outperforming Bitcoin today?

The CoinDesk 80 Index gained 4% vs Bitcoin's 1.6%, suggesting rotation toward smaller cryptocurrencies and treasury company expansion.

What are the key support levels to watch?

$107K (6-month cost basis) represents critical support. A break below could trigger accelerated selling.