Glassnode: The current vulnerability of Bitcoin is intensifying, and its structure is still vulnerable to external negative factors

BlockBeats News: On August 6th, Glassnode released a market report stating that as the market retests the low liquidity range below the $114000 threshold, the frenzy phase of Bitcoin is coming to a halt and the market is undergoing a period of readjustment. The signals from various market sectors indicate that market momentum is cooling down, positions are cautious, and risk appetite has weakened. There are three main reasons for this: 1. The spot market has significantly weakened, with RSI dropping from 47.4 to 35.8, falling below its low range, indicating that the market has entered an oversold area. 2. The open interest contracts in the futures market decreased from $45.6 billion to $44.9 billion, indicating that the market is slowly closing positions. 3. The net inflow of ETF market decreased by 24.9% to $269.4 million, far below the low range, indicating weak institutional demand. In summary, the market has shifted from prosperity to reassessment, with oversold conditions and seller fatigue suggesting the possibility of a rebound. However, market fragility is intensifying, and its structure is still susceptible to external negative factors or delayed demand recovery.