Technically, Bitcoin near its recent range low (after hitting $125k on Aug 14) shows bearish signals: declining volume and below key moving averages. Support lies around $105k-$110k (previous consolidation level). Resistance is $120k-$125k (August high). Breakout chances depend on volume: low volume makes upward突破 unlikely; a drop below support may trigger a further fall to $100k. A rebound needs strong buying at support and positive catalysts.
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The driving factors behind the capital rotation are complex. On one hand, the unclear future of Fed's monetary policy makes investors adjust their portfolios. On the other hand, the different growth potentials and risk - return ratios of various assets also prompt capital flow. The capital may flow into relatively stable assets like gold, or into other emerging sectors in the cryptocurrency market, such as some promising altcoins or DeFi projects with high - yield opportunities.
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There could be some similarities in market sentiment. In both cases, sudden price drops might have triggered panic selling among short - term investors. However, the subsequent recovery in June and the current upward trend might be driven by long - term investors seeing opportunities in the dip. Regarding 资金流动模式，large institutional investors might have stepped in during both periods to buy the dip, believing in Bitcoin's long - term value. Technical factors like support and resistance levels might also play a role, with the same key support levels being tested and holding in both scenarios.
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