glassnode: Bitcoin's recent support level is in the $107,000 range. If it falls below this, it will dip to $93,000 to $95,000.

On August 28, glassnode released a research report stating that the key support range for Bitcoin is between $107,000 and $108,900. If this range is broken, it may further dip to between $93,000 and $95,000, where a dense cost basis cluster exists. Due to selling pressure from short-term holders, $113,600 may become a rebound resistance level. Currently, Bitcoin's spot demand is neutral, the Perptual Futures market sentiment is bearish but weak, and the funding rate remains around 0.01%, indicating that market sentiment is still in an uncertain state. Compared to past cycles, the current adjustment is not large, but confidence is weakening, and the market will find a balance between rebound and further decline.