Bitcoin is holding steady around $108,716, with indications of a potential breakout as retail and institutional accumulation reaches new heights. Analyst André Dragosch from Bitwise disclosed that July and August saw the establishment of 28 new bitcoin treasury firms, adding over 140,000 BTC, nearly equaling the annual amount of new bitcoin mined (approximately 164,000 BTC). This suggests a robust demand exceeding the new supply by over six times. Recent data shows that by August 29, institutional demand absorbed over 690,000 BTC, creating a significant imbalance with only around 109,000 BTC in new supply. Meanwhile, retail investors are also increasing their holdings, signaling synchronized accumulation that often precedes major upward price movements. Despite this strong demand, bitcoin's price has remained largely unchanged as markets await clearer catalysts for movement.

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