The Bitcoin market is currently at a critical moment, with two potential trends in the future. First, we might see a rebound in the short term. However, if the price fails to break through the key resistance level of $117,500 to $118,400, the market may face further pullbacks.

This pullback may present in two forms: one scenario is that the Bitcoin price may fall back to around $112,000 today. Another more severe scenario is that if the price breaks below the key support level of $112,000, we may see it drop further to around $105,000.

The current market environment is filled with uncertainty, and investors should closely monitor these key price levels and adjust their investment strategies in a timely manner according to market changes. It is worth noting that although there may be fluctuations in the short term, in the long run, Bitcoin, as an emerging asset class, still has tremendous growth potential.

When making decisions, investors should also consider broader market factors such as the global economic situation, changes in the regulatory environment, and the level of participation by institutional investors. Keeping a close eye on these factors can help better understand and predict the trends in Bitcoin prices.