According to CoinMeta, on August 19th, short squeezes drove BTC to rebound above $80,000, but it then encountered resistance below the dense supply zone of long-term holders between $83,000 and $86,000 and fell back to around $76,000. On-chain data shows that when BTC was also around $78,000, the proportion of profitable supplies had risen from 65% in May to 68%. This indicates that the current potential selling pressure below $62,000 to $65,000 constitutes the main support, while the range above $83,000 to $86,000 remains the core resistance.