Recently, the price of Bitcoin has begun to pull back, testing the key support levels of 113000 and 112000. Whether it can hold these price levels largely depends on the performance of the US stock market.

This week, with the release of a series of U.S. macroeconomic data, along with the controversy caused by the revision of previous non-farm payroll data, the expectations for interest rate cuts in September have shown fluctuations. These factors have led to a noticeable decline in the U.S. stock market over the past three days.

It is worth noting that stocks related to cryptocurrencies, such as MicroStrategy and Coinbase, have shown a declining trend for two consecutive weeks. This trend closely aligns with the overall downward trend in the cryptocurrency market, reflecting the increasingly tight connection between traditional financial markets and the digital asset market.

In the current market environment, investors need to closely monitor U.S. economic indicators and stock market performance, as these factors may have a significant impact on the short-term price movements of cryptocurrencies like Bitcoin. At the same time, attention should also be paid to the unique dynamics of the cryptocurrency market, as it often has its own interpretations and reactions to macroeconomic events.

In this period full of uncertainty, it is particularly important to remain calm and analyze rationally. Investors should adjust their investment strategies based on their risk tolerance and long-term investment goals, rather than blindly following short-term market fluctuations.