Bitcoin's recent move is facing multiple pressures. On the morning of June 12, Bitcoin suffered a significant correction, with the price falling by more than a thousand points, falling below the 109,000-point support level and touching the lowest area of about 108,000 points. The appearance of a long upper shadow on the daily chart shows that there is significant resistance in the 110392 area, and the price is moving down quickly after being blocked. Technically, the 4-hour line has formed a continuous negative candlestick structure, and the EMA7 moving average has formed a dead cross signal with the price, indicating that the short-term buying power is weakening. It is expected that the correction trend may continue in the near term, and if the key support level is breached, the price could move further lower.

However, from a medium to long-term perspective, there are still positive factors in the market. Institutional investors' interest in Bitcoin continues to rise, with listed companies like MicroStrategy consistently increasing their holdings, ongoing inflows into Bitcoin ETFs, and growth in miner output. These factors together form the basis for a bullish outlook in the medium to long term. In addition, the "Digital Asset Market Transparency Act" passed by the United States is expected to improve the regulatory environment, creating conditions for more institutional funds to enter the digital asset market.