The Bitcoin market has recently shown some interesting characteristics. At the beginning of this week, trading activity experienced an unexpected decline, even falling below weekend levels, which may reflect a temporary weakening of participation from American investors. However, the lower Turnover Rate may actually provide some buffer for prices, alleviating downward pressure.

Market sentiment is currently somewhat cautious, mainly due to concerns over the uncertainty that upcoming political events may bring. Investors are closely monitoring any sudden news that could impact the market.

In terms of price support, data shows that the current most concentrated price range for Bitcoin is between $104,000 and $108,500, with a total of about 2.2 million Bitcoins. Despite the large quantity, the stability of this price range remains relatively good.

It is worth noting that the price trend of Bitcoin shows a high correlation with the US stock market, particularly the S&P 500 index and the Nasdaq index. This linkage makes observing the performance of major stock indices an effective method for predicting the direction of the Bitcoin market.

Overall, despite some uncertainties in the market, the fundamentals of Bitcoin remain relatively stable. Investors should continue to pay attention to the movements of the US stock market and significant events that may impact the market in order to better grasp the development trends of the Bitcoin market.