Recently, the Ethereum market has shown obvious signs of cooling. According to the latest data, on major trading platforms like OKX and Binance, the long-to-short ratio of ETH has fallen below 1 in the past 12 hours, with a decline of nearly 50%. This change in data undoubtedly serves as a wake-up call for market participants, reminding us that current market sentiment may not be as enthusiastic as it was before.

There are about three weeks left until mid-September, and the market may need a cooling-off period to digest the recent rapid rise. Another factor worth noting is the upcoming employment data to be released in early September, as the market usually allows some reaction space for such important economic indicators.

Considering these factors, investors should remain vigilant and closely monitor the potential risk of a pullback. However, from a medium-term perspective, the market as a whole may still maintain a bullish trend ahead of the possible interest rate cuts in September.

For traders, it is crucial to maintain independent thinking. While market data and trend analysis can serve as references for decision-making, blindly following trends often makes it difficult to stand firm in the rapidly changing cryptocurrency market. In the current market environment, investors are advised to remain optimistic while also moderately controlling risks and making adequate strategic preparations.