ChainCatcher Message, the latest analysis from the on-chain data analysis platform Glassnode reveals that the speculative enthusiasm in the Bitcoin futures market is cooling down. Firstly, the medium-term trend line (30-day moving average) has slightly declined after reaching a peak, indicating a subtle change in market activity. Secondly, the short-term trend line (7-day moving average) has fallen below the medium-term line, a phenomenon that usually signals an increase in market uncertainty. In this context, traders are choosing to gradually close positions to cope with potential market volatility. This dynamic is worth close attention from investors to timely adjust strategies in response to market changes.