Glassnode: Market sentiment has shifted from exuberance to caution, and the future trend depends on the likelihood of liquidity returning to stability or further adjustment.

PANews August 26 news, according to Glassnode data, BTC rose to $117,000 last weekend but then quickly fell back to $111,000, showing increased market fluctuation. The spot market momentum has weakened, with RSI nearing the oversold zone, selling pressure intensifying, and trading volume remaining stable but buyer confidence is weak. In the futures market, leverage has decreased, and the funding rate has risen, indicating weak speculative demand. Regarding ETFs, the outflow of funds from US-listed spot ETFs reached $1 billion, with a decline in trading volume and cooling institutional demand. On-chain data shows a decrease in daily active addresses and trading fees, a drop in network usage, and an increase in transfer volume driven by volatility. Overall, the market has shifted from frenzy to caution, and future trends depend on the possibility of liquidity returning to stability or further adjustments.