According to CoinMeta, based on early monitoring of in, since August 23, the long positions in Bitcoin have remained stable, and the market has shown a neutral oscillating trend after the price increase. Since August 17, the short positions in Bitcoin have continued to decline. For Bitcoin to start a comprehensive upward trend, three conditions need to be met: Hyperliquid whales shifting to a bullish stance, Bitfinex whales completing their long position building, and the disappearance of the negative premium for Korean kimchi and Coinbase overpricing. Currently, Bitfinex whales have completed their long position building in Bitcoin, and the negative kimchi premium as well as the negative Coinbase overpricing have disappeared. The market is watching whether Hyperliquid whales will shift to a bullish stance.