Bitcoin Breaks 110,000: The Changing Storm After the Carnival

When the price of Bitcoin broke through the critical level of 110,000, the cryptocurrency market was instantly ignited, and a grand drama interwoven with wealth dreams and unknown challenges unfolded.

Carnival and Bubble Breeding

The news of the breakthrough was like a heavy bomb, with retail investors flocking in. On social media, calls for "wealth codes" and "missing out and hitting the thigh" echoed one after another. New entrants, filled with the desire to get rich quickly, rushed in without hesitation, causing market demand to explode. Institutions were not willing to fall behind; many hedge funds and asset management giants added chips to their investments to avoid being outdone, further fueling the surge. Bitcoin trading volume soared exponentially in a short period, and the entire market fell into a near-frenzied upward trend.

However, amidst this rapid advance, bubbles quietly inflated. Prices deviated increasingly from their true value, with many worthless coins and Ponzi schemes taking advantage of the chaos to profit from investors' greed, exacerbating the disorder of the mixed market.

Emerging Selling Pressure

The "old miners" and investors who entered at a low cost earlier have now made a fortune. The high point of 110,000 is undoubtedly an excellent opportunity to cash out. Due to risk aversion and the instinctive need to secure profits, many profit takers are on the lookout to act. Their selling of Bitcoin is like pouring a bucket of cold water on the scorching market; supply suddenly surges, and the pressure for price correction increases sharply.

At the same time, the profit-taking strategies preset by quantitative trading institutions are triggered, and massive amounts of Bitcoin are driven by programs to be sold into the market. This mechanical selling, regardless of market sentiment, will impact supply and demand balance in a short time. If buying support cannot hold, a price collapse is not an alarmist statement.