According to CoinMeta, the price of Bitcoin (BTC) is approaching an August low, and long positions on the Binance platform are facing liquidation. Analysis indicates that as price volatility intensifies, leveraged long positions are under pressure, and market sentiment is becoming more cautious. Analysts warn that the price trend of BTC faces multiple threats and may fall further. According to CryptoQuant data, the correlation between the open interest (OI) of Binance and price has reached 0.25, indicating a simultaneous decline in both. The CEO of CryptoQuant, Ki Young Ju, stated that the Bitcoin bull market has not yet arrived, and the market is still in an adjustment phase.