BlockBeats news, on September 2, glassnode released a market analysis indicating that as the Bitcoin price further retreated from its historical high of $107,000, the market is currently above the cost basis of short-term holders. In the spot market, the Relative Strength Index (RSI) has fallen into the Oversold zone, indicating further weakening of momentum, while the volume has decreased, reflecting a decline in market confidence. The spot CVD shows that the dumping pressure has eased, suggesting a temporary stabilization in the market, but overall signals indicate weak demand. The futures market shows cautious Position allocation. Open interest has decreased, financing payments have reduced, and the perpetual futures CVD has slightly improved, indicating a decline in leverage and weakening bullish sentiment. Traders seem reluctant to expand their risk exposure, highlighting a defensive strategy taken after recent fluctuations. In the options market, the decrease in open interest has led to a decline in participation, and the volatility spread has narrowed.