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The panic index today is 54, returning to a neutral state.
The market is re-testing the low liquidity zone below the $114,000 threshold, and the market's euphoric phase has paused as Bitcoin enters a reconstruction phase. Signals from various market sectors indicate that market momentum is cooling down, position deployment is becoming more cautious, and risk appetite has weakened. The spot market has entered an oversold area, while leveraged bullish demand in the futures market has decreased. It has been mentioned in the past two days to reduce leverage to avoid volatility; pullbacks are seen as an opportunity to accumulate.
It seems that investors are choosing to take profits after the recent market rise, rather than a decrease in institutional demand. Looking at July as a whole, spot ETFs have attracted hundreds of billions of dollars, and with enterprises and institutions continuously accumulating coins, it is clear that the long-term demand in the market remains robust.
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