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The Glassnode report points out that when Bitcoin broke through $85500, the trading volume was low and the incremental funds were limited. The average daily trading volume of spot trading platforms and US spot ETFs is about 6.8 billion US dollars, which is lower than about 90% of trading days since January 2024. Within 30 days, ETF, stablecoin growth, and corporate treasury purchases brought in approximately $4.9 billion in new funds, which is less than 40% of the $12.8 billion realized market value increase during the same period. Short term holders who made profits on October 4th contributed approximately 86% of the trading platform inflows that day, setting a new one-year high. The ratio of open put to call options in the options market is approximately 0.56. Recently, the clearing level has been concentrated below the price, with large clusters ranging from 81700 to 83300 US dollars, and Binance's maximum buying range ranging from 81000 to 81250 US dollars. If it stabilizes above $85500, the bearish clearing cluster around $92000 may enter the touch range. If the $81000 buy order falls below, the clearing cluster below may be triggered.