PANews August 26 report, CryptoQuant analyst Axel Adler Jr stated that Bitcoin's recent strong support range is between $100,000 and $107,000, which coincides with the actual price of short-term holders and the 200-day simple moving average.

If this range is broken, the market may find deeper support around $92,000 to $93,000, which reflects the cost basis of short-term investors holding for 3 to 6 months, or it may become the market's second line of defense.