According to Woofun AI, the Bitcoin market reversed sharply over the weekend, causing investors to go long with excessive leverage to be hit hard.

Bitcoin's rebound last week made shorters passive, but the market reversed on Sunday, and bulls became the main losers. Within the 4-hour window, the BTC settlement amount reached $38.66 million, and the 24-hour total rose to $55.82 million. At the time, the price of BTC fell to $76088, down 1.8% from the previous day, having previously rebounded to around $80,000 and then back to $77,300.

According to data compiled by Woofun AI, changes in position structure indicate that investors' leverage ratio is declining and risk exposure is shrinking.

The distribution of liquidations showed a concentrated pattern. Binance contributed 65.2 million US dollars of liquidation within 4 hours, of which going long accounted for as much as $58.64 million. The largest single settlement within 24 hours was a $11.72 million ETHUSDT transaction on the Binance platform, indicating that the ETH market is also under great pressure.

From the perspective of spot ETFs, the August 23 data reflects a weakening in longing sentiment and a decrease in open positions. The new round of bullish markets will have to wait for the leverage ratio to pick up or financing activities to increase. The reopening of the ETF channel on Monday will be a key point in testing spot demand. Currently, the market is still in the risk clearance stage.

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