Bitcoin's recent performance has attracted market attention. Affected by adjustments in the Fed's interest rate cut expectations and the outflow of ETF funds, Bitcoin's price has experienced a pullback. From a Technical Analysis perspective, a downward channel has formed in the short term, and the power of longers has weakened. However, it is worth noting that some large holding Addresses have increased their positions against the trend at this time, which may indicate long-term investors' confidence in Bitcoin's value.

Considering various factors, the Bitcoin market may maintain a volatile trend in the short term. Investors need to closely follow the trend in the range of $125,500 to $125,200. If it falls below this range, it may further drop to around $123,000.

Despite the large short-term volatility, the long-term value of Bitcoin as a digital asset is still worth following. The interplay between market sentiment and fundamentals will continue to influence price trends, and investors should approach this rationally and manage risks effectively.