Recently, Bitcoin ( BTC ) market has shown interesting dynamics. The volatility has significantly dropped, and the current liquidity accumulation is fundamentally different from the previous large investors' dumping situation. After the recent market fluctuations, the supply pressure has been effectively digested, and both bulls and bears have completed a round of handover.

Currently, the market is in a typical 'time for space' phase, and it is necessary to gradually digest the accumulated liquidity in order to break through the current situation. However, recent macro events occur frequently, which may lead the market to test the bottom support again.

In the short term, BTC shows a trend of consolidation with reduced volume, and it is difficult to break through the previous high point. In this case, one should be wary of short-term pullback risks. However, concerns about a deep correction can be temporarily set aside, as the formation of a top structure usually requires multiple confirmations. It is recommended that investors maintain a wait-and-see attitude and adjust their strategies according to market changes.

In terms of intraday trading, BTC seems to lack momentum and may experience a certain degree of pullback. Investors can pay attention to new buying opportunities after a downward test. For short-term operations, a short position can be considered around 118,000, with a stop-loss point set below 116,000.

Overall, the current cryptocurrency market is at a delicate balance point. Investors need to closely monitor market trends, weigh risks against opportunities, and make informed investment decisions.