Bitcoin (BTC) is facing difficulties in sustaining its position above crucial support levels, as investor confidence wanes. The cryptocurrency is currently trading at $108,772, just above the $108,000 support mark. Recent data from the Supply Quantiles model indicates BTC is below the 0.85 quantile at $108,600, pointing to structural weaknesses and potential for further declines. Additionally, the 1-Month Volatility Risk Premium has turned negative, suggesting a shift from low-volatility conditions and increased pressure on short-gamma positions. This development underscores the fragile market sentiment, as Bitcoin struggles to break past the $108,000 threshold, highlighting the growing bearish outlook.