Bitcoin (BTC) is currently trading within a narrow range, experiencing a 5.35% decline this week, the largest since March. The cryptocurrency is hovering around $109,000, with analysts suggesting this consolidation phase could lead to a significant price movement. Key support is identified at $108,500, while resistance is at $110,000. Market sentiment has weakened, reflected by a $30 billion drop in total crypto market capitalization and a net outflow of $897.6 million from spot Bitcoin ETFs this week. Despite these pressures, strong spot demand and a decrease in speculative futures positions indicate potential for a sustainable recovery.