The Bitcoin market has recently entered a new fluctuation phase, with prices oscillating between 106000 and 109000 dollars, forming a new trading center. This trend is basically in line with previous expectations, indicating that the market is undergoing a small-scale adjustment.

Yesterday, the price of Bitcoin fell to around 106,800 USD, confirming the importance of this area shifting from resistance to support. Subsequently, the price experienced a slight rebound but failed to break through the previous high of 108,300 USD, slightly below earlier expectations.

The current market trend shows a clear characteristic of range fluctuation. This may be due to the previous rapid increase in speed, lacking sufficient pullbacks and consolidation. The current fluctuation adjustment provides both long and short parties with opportunities for conversion and competition. The next direction of the market will largely depend on the comparison of long and short forces within this horizontal range.

It is worth noting that the main driving force behind the recent market activity comes from the clearing activities in the futures market. This trend may continue to play an important role in the upcoming trading sessions. Investors should closely monitor changes in the key range of $106,000 to $109,000 to assess the direction of the market.

In addition, from a longer-term perspective, the fluctuation of Bitcoin still has significant uncertainty. Market participants need to comprehensively consider various factors, including the macroeconomic environment, changes in regulatory policies, and the attitudes of institutional investors, to make more accurate judgments.

Overall, the current Bitcoin market is at a critical decision point. In the short term, the fluctuation range of $106,000 to $109,000 may dominate the price movement. Investors should remain vigilant, closely monitor market trends, and make corresponding investment decisions based on their own risk tolerance.