BlockBeats News, August 7th, On-chain data analysis firm Glassnode released its latest On-chain Weekly Report, with the theme of "Bitcoin Market Entering a Liquidity Vacuum Phase: The Game between Key Support and Demand Recovery".

Glassnode cited data in the report, stating that after hitting a new all-time high of $123,000 in mid-July, Bitcoin entered a consolidation phase. Currently, the price has fallen below a supply-dense area based around $116,000. On July 31st, the price further broke below the lower boundary of this range, sliding into a liquidity-thin "air gap" that extends downwards to $110,000. Despite some buy-the-dip behavior, the market has not yet reclaimed the key resistance level.

The profit ratio of short-term holders has decreased from 100% to 70%. If demand does not rebound quickly, the confidence of new investors may weaken, leading to more selling pressure. Meanwhile, on August 5th, Bitcoin ETFs saw a net outflow of 1,500 BTC, marking the largest single-day outflow since April 2025. The funding rate in the perpetual contract market has also dropped, indicating a reduced willingness for leveraged long positions, and a cooling of market speculative fervor.