BlockBeats News, August 27th, glassnode released a market analysis stating that the net inflow of the US Bitcoin spot ETF during this rebound window reached $22.3 billion, marking the strongest weekly inflow since 2026. Bitcoin continues to flow out of exchanges, and wallets of all sizes are showing accumulation. Meanwhile, the open interest of Bitcoin futures contracts has decreased by 11% in BTC terms, with the funding rate staying largely neutral, indicating that market leverage has not significantly piled up again.

From a market structure perspective, Bitcoin is currently in a recovery phase, but the overhead supply pressure is intensifying. Data shows that near $80,800, there is cost basis resistance from self-custody holders, around $82,300 is the Gamma flip level for traders, and between $82,000 and $86,000 coincides with multiple resistances such as short liquidations, long-term holder supply, and order book sell walls. Glassnode points out that the $83,000 to $86,000 range is the core supply zone for this rebound; if Bitcoin can hold above $83,300 and ETF funds continue to flow in, it may indicate that the market is gradually absorbing this supply wall.

On the downside, the short-term holder cost basis is currently around $70,000, with $62,000 to $65,000 forming a more significant bottom support area. The options market has not yet priced in a clear directional breakout expectation. As of the September 25th expiration, the implied 70% middle result range is approximately $69,000 to $89,700, indicating a general tendency for Bitcoin to continue oscillating between key support and resistance. Glassnode believes that if the price drops below $70,000, the market will first test the $62,000 to $65,000 support; if it revisits around $62,900, it may signal that the current rebound trend has been largely reversed.