[Analyst: Bitcoin Korea Premium Declines, Leverage Remains Moderate] CryptoQuant analyst CoinNiel stated that the current on-chain structure of BTC remains neutral rather than showing a clear bias toward buyers, and derivatives do not exhibit signs of overheating. The net inflow to exchanges sharply dropped from 2,724.6 BTC on September 11 to 211.8 BTC on September 12, indicating that selling pressure persists but has significantly weakened. Funding rates decreased from 0.005646 to 0.003604 but remain positive, suggesting that longs are still dominant while leverage is not excessively crowded. Open interest (OI) slightly increased from approximately $25.01 billion to $25.15 billion, with the rise in OI accompanied by a decline in funding rates, indicating relatively healthy positioning. The Korea Premium Index fell from 2.10 to 0.98, showing that while Korean spot demand still carries a premium, short-term buying enthusiasm has cooled.