In the early morning of October 10, $BTC 7, Bitcoin performed strongly, rising to $112,000 at one point, setting a new all-time high. As of the time of writing, it is priced at $111,314, with a 24-hour increase of 2.44%. This round of increase is attributed to the rebound of tech stocks in the US market, inflow of institutional funds, and the optimistic expectations for the Federal Reserve's interest rate cuts. Currently, Bitcoin is in a high-level consolidation, fluctuating between $105,000 and $112,000. Technically, it is in a 'guiding wedge'; if it breaks through $110,000, it is expected to initiate a new round of increases, targeting $120,000 to $122,000. However, the market is volatile, and investments should still be made with caution.