Overview

• BTC trades around $107,000–$109,000 after ending August down about 6% and closing below the Short‑Term Holder Realized Price near $108,900 for the second time this year.
• The Crypto Fear & Greed Index slid to 39 (Fear) as “buy the dip” chatter jumped, with Santiment warning that such signals often precede further downside rather than a durable bottom.
• Market activity intensified, with spot volume up roughly 30%, futures volume up about 45%, and open interest near $80 billion, raising leverage and liquidation risk.
• On‑chain indicators diverge, with a positive Coinbase premium and Delta Cap support pointing to institutional demand even as U.S. spot Bitcoin ETFs saw $751 million in August outflows.
• Near-term scenarios split between a relief bounce toward $113,000–$114,000 and deeper tests of $104,000–$101,000 and $100,000, with some analysts flagging longer‑term support around $92,000.