The Bitcoin market is once again facing a major test, with the key support level of $115,000 becoming the focus of investors' attention. This price point is not only an important starting point for the previous rapid rise but is also near the Fibonacci retracement level that many technical analysis experts are watching, making it a strategic battleground for both bulls and bears.

The market environment is undergoing subtle changes. Although the selling pressure from large institutional investors like Grayscale has eased somewhat, the inflow of funds into other ETFs has noticeably slowed, affecting the overall liquidity of the market. Meanwhile, Federal Reserve officials continue to emphasize inflationary pressures, suggesting that interest rate decisions still require caution, which undoubtedly brings uncertainty to the cryptocurrency market.

Investor sentiment has gradually shifted from previous enthusiasm to a wait-and-see approach. Discussions on social media have changed from "buying the dip" to "waiting," and tendencies for profit-taking and risk aversion have begun to emerge. This shift in sentiment may further influence short-term market trends.

From a technical analysis perspective, $115,000 is not only a support level but also a litmus test for market demand. Whether sufficient buying support can be obtained at this level will determine the future direction of the market. At the same time, this area may also become the starting point for an oversold rebound, providing the bulls with an opportunity to counterattack.

In the face of market uncertainty, investors must remain calm and rational. Excessive fear or blind optimism can bring risks. Closely follow market trends, maintain an appropriate position, and manage risks effectively; these are wise actions to deal with market fluctuations. Whether in a bull market or a bear market, maintaining a clear mind and a long-term perspective is always the key to successful investing.