From on-chain data, the BTC turnover rate has slightly increased, mainly concentrated among short-term investors whose holding costs are above $107,000. The $117,000 level has been tested multiple times, but approximately 640,000 BTC remain accumulated, indicating that a directional choice is imminent. The two major support areas have kept their positions stable, and even during last week's low sentiment, they did not drop below $110,000, showing solid support. With weekend liquidity, market sentiment is expected to be stable, and current long positions are held while waiting for weekend performance.
