Today, Bitcoin surged to $115,800. This sharp rise is certainly not a coincidence. I personally believe that the expectations for a rate cut by the Federal Reserve have strengthened, and the latest CPI shows that inflation is cooling down. The market is betting on a rate cut in September or November. Because lower interest rates = a weaker dollar, funds are shifting towards risk assets, such as BTC.

In addition, ETF inflows during the week (IBIT + FBTC) totaled over $1.3 billion. In the past 24 hours, the liquidation amount of contracts exceeded $620 million, and market sentiment jumped to 71 (greed) today. Notably, Bitcoin's market share has surpassed 55.4%, reaching a new high since the mid-2021 bull market.

The range of 118,000 - 120,000 represents a strong resistance level. Once it stabilizes and retests without breaking, a new acceleration towards above 125,000 may occur. It is not advisable to chase highs; instead, wait for a retest of the Bollinger middle band and the key support level on the 4-hour chart. At high levels, it is advisable to partially take profits for safety.