Recently, the encryption currency market has experienced a new round of fluctuations. The price of Bit has significantly fallen in a short period, attracting widespread attention from market participants.

The data shows that Bitcoin is exhibiting a continuous fall trend on the daily chart, with trading volume significantly increasing. This price movement has led to a cautious market sentiment, with some investors opting to exit.

From a technical analysis perspective, the current price trend may be a correction. Market observers believe that as long as the price does not fall below the key support level of $120,000, there is still a possibility of an upward movement. However, if it falls below this level, it may trigger a deeper adjustment.

It is worth noting that in this market environment, investors should remain rational and focus on long-term trends rather than short-term fluctuations. At the same time, they should also be cautious of the potential excessive panic in the market.

For future trends, market analysts suggest paying attention to the support level in the range of $120,000 to $120,500. If it stabilizes within this range, it may rebound to levels of $122,000 or even $123,200.

Overall, the volatility of the encryption currency market remains high, and investors need to fully consider risk factors and allocate assets reasonably when making decisions.