Bitcoin's recent price fluctuations have been significant, dropping from a high of $123,000 at the end of July to $112,000, currently oscillating around $114,500, with a 24-hour trading volume down over 23%. The main reason for the decline is the increased inflow of funds into Binance (from 5,300 BTC in East Asia to 7,000 BTC, ending the downward trend in April), and the exchange's whales have reached 0.73, with large holders dominating the market and selling pressure ranking. However, it is not all bearish: the fund flow has decreased to 0.053, with the trading volume flowing into exchanges trending down, and the stock flow is higher than the monthly peak of 646.21, indicating increased scarcity. Momentum indicators show a strong downward trend; if pessimistic sentiment persists, it may test the support at $110,000, and if selling pressure eases, it may consolidate in the range of $113,000 - $117,000.

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