glassnode: Bitcoin's recent support is located in the $107k range, and if broken, it will test the $93k to $95k range.

BlockBeats News, August 28th: Glassnode released a report stating that the key support range for Bitcoin is $107,000 to $108,900. If this range is breached, further downside potential lies in the $93,000 to $95,000 range, where a cluster of on-chain support levels exists. Due to selling pressure from short-term holders, $113,600 may act as a resistance level for any bounce.

Currently, Bitcoin's spot market demand is neutral, while the perpetual futures market sentiment is bearish but fragile. The funding rate remains at around 0.01%, indicating that market sentiment is still uncertain. Compared to previous cycles, the current correction is not significant, but confidence is waning, and the market is poised to find a balance between a bounce and further downside.