According to CoinMeta, Alpha AI indicates that, based on its buy-sell pressure indicators, Bitcoin is still in a distribution phase. On the daily chart, selling pressure continues to be higher than buying pressure, and the smoothed pressure trend remains below zero. Although market conditions have significantly improved since the panic phase in June, there has yet to be a structural reversal. In July, there were several instances of positive buying pressure that helped Bitcoin recover, but the demand was not sufficient to change the overall trend. From the end of July to the beginning of August, pressure weakened again, and sellers regained control of the market. This means that Bitcoin may have emerged from extreme selling, but the data still does not confirm a healthy accumulation phase. Currently, it is important to pay attention to the divergence signals between price and pressure: if Bitcoin rises while buy-sell pressure remains negative, it may be more due to sellers becoming exhausted rather than new demand driving the rise. Alpha AI believes that strong bullish confirmation requires the following conditions: several consecutive days of positive daily buy-sell pressure, a clear bottom in the smoothed pressure trend with an upward movement, and price increases accompanied by buyer dominance. Otherwise, the reluctance to take risks and continued sideways movement towards a bearish trend still exist.