The price of Bitcoin has today broken through the $117,000 mark, with a 24-hour rise of between 3.7% and 4.17%. The market is performing strongly, with an overall upward trend. However, the current price is approaching the important resistance level of $117,800, and investors should be cautious of a potential technical pullback. In the short term, around $116,500 will become the key support level.



Recently, Federal Reserve Chairman Powell hinted at the possibility of implementing interest rate cuts, and this news has driven Bitcoin to break through $116,000. Although the market shows a clear bullish sentiment in the short term, investors still need to be cautious of potential profit-taking that may occur around the $120,000 mark.

From a medium to long-term perspective, if the Federal Reserve confirms a rate cut policy, the improvement in market liquidity could further drive up Bitcoin prices, potentially challenging historical highs. However, investors should closely monitor market dynamics and manage risks appropriately.

In the current complex and ever-changing cryptocurrency market, maintaining rational judgment is crucial. Investors should comprehensively consider various factors such as the macroeconomic situation, changes in regulatory policies, and technical analysis to formulate investment strategies that suit themselves. At the same time, they must remain vigilant about the risks brought by market fluctuations and ensure proper capital management and risk control.
BTC-2.43%
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DegenWhisperervip
· 10h ago
Why do you call me miss out every day?
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BottomMisservip
· 19h ago
Finally waited for today, getting on board and Cut Loss was the right move.
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CryptoSurvivorvip
· 19h ago
All in and that's it.
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DefiSecurityGuardvip
· 19h ago
warning: detected classic bull trap pattern near 120k resistance. nfa but protect ur assets now
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CodeZeroBasisvip
· 19h ago
Pump! To the ceiling!
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SorryRugPulledvip
· 20h ago
Oh no! It has risen again.
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PessimisticLayervip
· 20h ago
Another day of Fluctuation...
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