I took a look at the recent market trend, and there are some things worth pondering.

The Bollinger Bands are expanding downward, with the upper and lower bands moving down in sync, which is a typical bearish signal. As for the MACD, the green bars are shrinking, but the two lines are still firmly below the zero line, indicating that the downward momentum has temporarily slowed, but a rebound is still far off.

On-chain activity appears lukewarm. There hasn't been any obvious influx of large funds, and the entire market lacks solid positive support. Currently, there are no new regulatory actions.

Based on these signals, the likelihood of continued short-term volatility and downward movement is quite high. If the price can stabilize within the 89,500 to 89,000 range, then we can say that support has been found. Otherwise, there is still room for further decline. We need to keep observing the performance within this key range.