Recently, the Crypto Assets market has shown signs of a pullback, with Bitcoin's price dropping from a high of $117,900 to around $117,300, a decline of over 0.6%. This pullback mainly stems from short-term speculators opting to take profits, while the technical indicators also show signs of a pullback, putting pressure on the market.

Currently, Bitcoin faces upper pressure levels in the range of 119,000 to 120,000 USD, which is a strong resistance area and difficult to break through. The lower support levels are divided into two tiers: a weak support level at 116,500 USD, which the market has tested multiple times today, and if it falls below this level, it could trigger greater risks; a strong support level is between 115,000 to 116,000 USD, which is considered the cost area for institutional investors and may trigger a rebound.

It is worth noting that the current market sentiment is cautious, and investors are closely watching whether Bitcoin can hold its key support level. If the weak support level of $116,500 is breached, it could trigger further falls. However, if the price stabilizes in the strong support range of $115,000 to $116,000, we may see a rebound.

For long-term investors, this short-term volatility may present potential buying opportunities. However, given the uncertainty in the market, it is advisable for investors to remain vigilant, closely monitor market trends, and manage risks effectively. At the same time, attention should also be paid to changes in the global macroeconomic situation and regulatory environment, as these factors could significantly impact Bitcoin prices.