Bitcoin has recently once again refreshed its phase high point, confirming the solidity of the $117,000 support level, and this trend is highly consistent with market expectations.

Currently, the Bitcoin price has approached the first important target level for a rebound within the MVRV deviation pricing channel - $125,000. This level is not only a key resistance in the short term but also an important reference point for assessing the direction of subsequent market trends.

If Bitcoin can break through and stabilize above $125,000, and maintain this key level during the pullback, the likelihood of it climbing to higher price levels will significantly increase. The upcoming price movements will be a key factor in determining the strength of this upward trend.

It is worth noting that the current Bitcoin market is showing strong upward momentum, but investors still need to remain cautious. The performance at the $125,000 level will provide important clues for the market, helping to determine whether Bitcoin has the potential to start a new round of upward cycle.

Analysts point out that in addition to technical factors, it is also necessary to pay attention to various aspects such as the global macroeconomic environment, changes in regulatory policies, and the attitudes of institutional investors, all of which may have a significant impact on the future trends of Bitcoin.

Regardless, Bitcoin's performance at the $125,000 level will become the market focus, and investors should closely monitor the breakout and pullback situation at this key price level to adjust their investment strategies in a timely manner.