[Glassnode: Bitcoin Spot Trading Volume Drops to Lowest Since 2019, Leveraged Longs Bet on Recovery in Advance] Deep Tide TechFlow reports that on August 13, Glassnode pointed out that Bitcoin is currently in a clearly compressed range, with its price situated between the realized price median of $63,000 and the short-term holder cost basis of $68,700. Spot trading volume has dropped to its lowest level since 2019. The report suggests that market selling pressure is weakening, but buying interest has yet to make a significant return. Spot Bitcoin ETF inflows remain limited, and tokens continue to flow toward exchanges. Glassnode stated that the U.S. core inflation rate for July was 2.5%, U.S. equities remain at high levels, but Bitcoin's muted response to positive news indicates insufficient demand. Meanwhile, leveraged long positions in the derivatives market continue to accumulate, with futures open interest at high levels, while order book buying depth has decreased by about one-third compared to early July. In terms of key price levels, if Bitcoin breaks above $68,700 with increased volume and improved ETF inflows, recovery signals are likely to be confirmed. However, if it falls below the lower boundary of the $58,500 range, the current bottom assessment will be invalidated.