Analysis: Bitcoin consolidates at $105,500, but market may be in the early stages of a new supercycl

 the current trading price of Bitcoin is about $105,500, near a key support level, with cautious market sentiment. Analysts pointed out that this level may be a watershed for short-term direction selection. If it falls below, it may test support near $103,000. If it holds, it may have a chance to re-challenge $115,000. On the other hand, despite the high market volatility in the short term, analysts are still optimistic about the long-term prospects. BTC Markets cryptocurrency analyst Rachael Lucas stated that due to the fact that the long-term uptrend has not been broken, it is expected to possibly re-challenge the $115,000 level, and it may currently be in the early stages of a new super cycle.