The cryptocurrency market has been turbulent recently, causing many investors to feel concerned about the market conditions. From a technical analysis perspective, if Bitcoin is in a daily level correction, we may see the price fluctuate between $2111 and $3941, with around $3180 potentially being a key support level, corresponding to the 61.8% level of the Fibonacci retracement. If the correction is larger and reaches the weekly level, then around $2970 may become another important support point, also corresponding to the 61.8% Fibonacci retracement level.

Although the market may face pressure in the short term, the long-term trend remains optimistic. Some analysts believe that by the end of this year, the price of Bitcoin is expected to reach a range of $8,000 to $12,000. This prediction, while exciting, should also be approached with caution due to the well-known high volatility of the encryption market.

In this market environment, investors should remain calm and manage risks effectively. At the same time, it is important to closely monitor market trends and fundamental factors, such as regulatory policies and institutional adoption, as these can have a significant impact on Bit price. Although current market sentiment is low, history shows that the encryption market often experiences dramatic reversals. Maintaining a long-term perspective and making investment decisions based on one's risk tolerance may be a wise choice to navigate this challenging market environment.