The Nasdaq index continued to rise today, mainly driven by market expectations of a possible rate cut by the Fed, leading to increased investor sentiment. The technology zone led the gains, boosting the overall upward trend in the US stock market.

In such a macro environment, the Bitcoin market has also become active. Currently, the price trend of Bitcoin is positive, influenced by the strong performance of US stocks, and it may likely challenge the $120,000 mark in the near future.

Market analysts predict that Bitcoin is likely to set a new high this week, with expectations of an accelerated push above $120,000 by mid-week. However, investors need to remain vigilant as the market may experience fluctuations. A common market pattern is a slow rise that leads investors to enter the market, followed by a sudden sharp drop that causes market turbulence. In such cases, investment operations will become more difficult.

For investors looking for entry opportunities, attention can be paid to the price level around $114,000, which may be a better entry point for bulls. Investors who have already established positions are advised to continue holding, while those who have not yet entered can consider positioning themselves near this price level. The initial target can focus on above $116,700, and subsequent trends need to keep an eye on market changes.

Overall, the current Bitcoin market is still showing a rise trend, but the market may experience fluctuations. In this situation, it is crucial to maintain a stable mindset and rational judgment. It is worth noting that for the past three weeks, Bitcoin ETFs have consistently shown a net inflow of funds, which may provide some support to the market.