Today, Bitcoin suddenly plummeted, dropping around 7000 points, which is the largest decline in recent times. The altcoin market is generally fine, and there has been no withdrawal of liquidity.

The trend for Ethereum remains, as long as it doesn't break 4240, it still looks bullish. The premise is that Bitcoin cannot enter a bear market; if it does, Ethereum won't be able to reach 4800.

The defensive support for Bitcoin is around 117000, and further down at 115000. To restore the upward trend, it must break through 120100 and return to 121000; otherwise, it still looks bearish.

Another peak is expected in the 123-124 range, as the U.S. stock market has not experienced a massive sell-off. It is not recommended to bet on reaching the peak this time, but rather to reduce positions on rallies and prepare for a bear market.

Just now, Bitcoin touched 117180, attempting to break through the contract near 117271.