BlockBeats 消息，9 月 2 日，glassnode 发表市场分析表示，随着比特币价格进一步从历史高点回落至 10.7 万美元，市场目前正处于短期持有者的成本基础之上。现货市场，由于相对强弱指数（RSI）跌入超卖区域，动能进一步减弱，同时交易量下降，反映出市场信心减弱。现货 CVD 显示抛售压力有所缓解，暗示市场暂时企稳，但整体信号表明需求疲软。
期货市场显示出谨慎的仓位配置。未平仓合约减少，融资支付减少，永续合约 CVD 略有改善，表明杠杆率下降，看涨意愿减弱。交易员似乎不愿扩大风险敞口，凸显了近期波动后采取的防御性策略。
在期权市场，由于未平仓合约减少，参与度有所下降，波动率利差收窄，表明市场存在自满情绪。然而，25 Delta 倾斜度飙升至历史极值以上，凸显了对下行保护的强劲需求，并强化了期权交易员的防御倾向。
总体而言，市场结构依然脆弱，看跌压力在现货、期货和链上指标中占据主导地位。ETF 资金流入提供了暂时的缓冲，但交易量萎缩和盈利能力下降凸显了市场信心的不足。虽然短期内可能出现反弹，但整体市场情绪仍保持防御性，除非需求再次强劲增长，否则市场仍可能进一步盘整。
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