The Bitcoin market has shown a continued sluggish trend recently. Since falling below the critical price level of 110,000 USD, Bitcoin has been unable to hold above that level, and the market trend continues to decline. Yesterday, the price of Bitcoin dipped again, setting a new recent low, further exacerbating the market's pessimistic sentiment.

From the daily chart, the market has not only failed to show effective rebound signals, but trading volume continues to shrink, reflecting the current lack of market activity. The hourly chart shows that all moving averages are clearly arranged downwards, indicating that bearish forces are still dominant. This standard bearish trend pattern has not seen any substantial changes, suggesting that the market may continue to be under pressure in the short term.

Although the current market environment is full of challenges, there are still potential trading opportunities. Investors can focus on bullish opportunities in the range of $109,500 to $110,000, while setting target levels in the range of $18,000 to $17,000. However, given the current market uncertainty, investors should act cautiously when making any decisions and fully assess the risks.

It is worth noting that the cryptocurrency market has always been highly volatile, and investors need to remain vigilant, paying attention to market trends and potential influencing factors. At the same time, it should also be noted that despite poor market performance in the short term, the long-term prospects for the development of blockchain technology and digital assets are still worth looking forward to.