Bitcoin breaks through the $123,000 mark, 24-hour increase exceeds 2.6%

Just refreshed the market page, the price of Bitcoin (BTC) suddenly surged, directly breaking through 123,000 USDT, currently stabilizing around 123,000.6875 USDT, with a 24-hour increase reaching 2.62%. This number looks a bit exaggerated, with four decimal places precisely at '6875'; I wonder which exchange's deep order book is competing.

Market sentiment has obviously warmed up, and many trading groups have started to become lively again. Some shout 'the bull returns quickly', while others cautiously observe, thinking there might be a short-term pullback. After all, this wave of increase came a bit suddenly; just two days ago, it was lingering around 120,000, and today suddenly a bullish candlestick shot up, catching many short positions off guard.

From a technical perspective, BTC has firmly stood at the psychological level of 120,000, with the next key resistance likely in the 125,000-128,000 range. If it breaks through, the market may further accelerate its rise; but if it encounters resistance and falls back, short-term traders may take the opportunity to realize profits.

Recently, the market's liquidity seems to be cooperating as well, with expectations for an interest rate cut from the Federal Reserve rising, coupled with institutional funds continuously flowing into Bitcoin ETFs, all providing support for the price. However, high volatility remains the norm, and it is advised not to let FOMO (fear of missing out) cloud your judgment; controlling your position is the key.

Now it remains to be seen if this wave of increase can be sustained. If it stabilizes at 123,000, perhaps it can surge again before the weekend. But the cryptocurrency market has never followed the usual path, and a reversal could happen at any time, so everyone should fasten their seatbelts! $BTC