Family, today let's talk about the rise and fall of Bitcoin after reaching a new high. On the morning of August 14, Bitcoin was quite impressive, breaking through $124,500, directly setting a historical new high! It then stabilized at $123,760, with a 24-hour increase of about 3.5%. However, data from different sources varies a bit, with some showing $117,290 and a decrease of -0.88%, but mainstream platforms like Coinbase confirm a weighted average price stabilizing at $123,000. At this point, trading volume is crucial, and we need to keep an eye on whether it can continue to expand.

Recently, the cryptocurrency market has been booming, with the total market value skyrocketing to $4.25 trillion, also refreshing historical peaks. This indicates that a large amount of capital is flowing in, and market enthusiasm is at an all-time high. Institutional funds are continuously entering, with Bitcoin spot ETFs seeing a net inflow of $178 million in a single day, with BlackRock’s IBIT accounting for $138 million, providing strong support from long-term funds. Moreover, Harvard's endowment fund has also increased its holdings in BlackRock's Bitcoin ETF, and now there are 47 listed companies that have included Bitcoin in their balance sheets, with the largest holding reaching $2 billion.

On the policy front, the Trump administration has allowed pension funds to invest in Bitcoin and other alternative assets, and plans to establish a 'strategic Bitcoin reserve', which reinforces Bitcoin's 'digital gold' attribute and has a significant driving effect on price increases.

For us ordinary investors, what we are most concerned about now is how to operate next. Brother Hao believes that after Bitcoin reaches a new high, there is a high probability of a round of correction. The current price is around $123,400, and it might be worth considering shorting, initially targeting $122,100. If the downtrend persists, we can also look towards $121,500.