According to Bitcoin's data, although the turnover rate has decreased, it remains at a very high level, indicating that investors' speculative behavior is still quite serious. The primary investors exiting the market are still short-term investors, especially those with a holding cost exceeding $100,000. The increase in turnover has also intensified the resistance to the upward price of $BTC.

The rise in turnover puts considerable pressure on support, but from the data, the support between $103,500 and $108,500 remains the first stage of support, while the support between $93,500 and $98,500 is even more solid. Overall, as long as there is no systemic risk, the first support level is still quite good.