The current vulnerability of Bitcoin is intensifying, and its structure remains susceptible to external negative factors.

On August 6, as the market retests the low liquidity range below the threshold of $114,000, the euphoric phase of Bitcoin is pausing, and the market is undergoing a period of readjustment. Signals from various market sectors indicate that market momentum is cooling, positions are cautious, and risk appetite has weakened. The main reasons are as follows:

1. The spot market significantly weakened, with the RSI dropping from 47.4 to 35.8, falling below its low range, indicating that the market has entered an oversold area.

2. The number of open contracts in the futures market decreased from $45.6 billion to $44.9 billion, suggesting that the market is gradually closing positions.

3. The net inflow in the ETF market fell by 24.9% to $269.4 million, well below the low range, indicating weak institutional demand.

In summary, the market has shifted from thriving to reassessing, with the oversold condition and seller fatigue suggesting the possibility of a rebound. However, market vulnerability is intensifying, and its structure remains easily influenced by external negative factors or delays in demand recovery. #btc