The Bitcoin market has recently shown a volatile trend, with prices falling from the previous high of about $124,000. Currently, the trading price of this digital asset has dropped to around $115,500, with a decline of about 2% to 2.4%.

The market is paying attention to whether Bitcoin can hold the important support level of $115,000. After experiencing a continuous six-week rise, the current price trend may indicate the arrival of a consolidation phase.

It is worth noting that some market analysts have begun to issue warning signals. They point out that after a prolonged period of rising, Bitcoin may face a certain degree of correction. From a technical perspective, if the price breaks below the lower boundary of the ascending wedge pattern, it may trigger further declines, with a potential target range extending between $88,000 and $94,000.

However, investors need to recognize that short-term price fluctuations are the norm in the cryptocurrency market. Despite the risk of pullbacks, the long-term development prospects of Bitcoin are still worth paying attention to. Market participants should closely monitor the upcoming price trends and assess potential risks and opportunities.