If it goes back above 107000, then we can talk about a callback, otherwise who will take it over?

● [Glassnode：比特币牛市上涨过程中市场回撤严重程度正在逐步减弱](https://www.binance.com/cn/square/post/18022752039153?utm_source=NewsRoundup&utm_medium=BinanceBUs&utm_campaign=MultichannelPromotion)According to Jinse Finance, on-chain analytics company Glassnode disclosed data showing that although the sharp price increases during Bitcoin's bull market are usually accompanied by extreme selling pressure, as the market size expands, the severity of market retracements during each bull market rally gradually diminishes.The deepest retracement of this cycle occurred on August 5, 2024, with a decline of 32%. During most retracements, the price of Bitcoin only fell 25% below local highs, indicating that the volatility of this cycle is among the lowest to date. This may reflect that the launch of a spot ETF has opened a huge demand window, while institutional investor interest is also continuously growing. The supply from the vast majority of short-term holders (measured by the number of coins) operates 'underwater' relative to their cost basis, but they have not endured extreme unrealized losses associated with market deterioration.