BTC's trend next week may continue to decline, targeting $110,000.

From a technical perspective:

On the weekly chart, Bitcoin appears to be in the final upward phase of a fifth wave extension, but the increase is significantly weaker than before and has entered a consolidation zone. This characteristic is considered a sign of insufficient demand.

On the monthly chart, it is near the upward resistance line and the upper rail, and technical pressure is gradually emerging. Zhang Heng believes that if a large negative line engulfs two consecutive positive weekly lines, or if there is a sudden upward breakout of the previous high after a period of consolidation followed by a rapid pullback, these could be signs of a confirmed bearish signal.

From a market liquidity perspective, if the "Great Beautiful Act" promoted by At is implemented, the increase in the US debt ceiling will force the Treasury Department to issue a large number of bonds, which is expected to drain approximately $486.0 billion in liquidity from the market - this amount is equivalent to about 15% of the total global cryptocurrency market capitalization. The significant contraction of liquidity will undoubtedly put downward pressure on the price of Bitcoin.

Considering the above factors, Bitcoin may retrace to the $110,000 level.