The price of Bitcoin has recently retreated from its peak and has repeatedly touched the important support range of 110400-111900 USD. This range serves as the starting point of the previous breakout and is also the location where long positions are concentrated, which has a strong attraction for the price. Although the area around 112000 USD has provided support multiple times, investors should not be overly optimistic in choosing to buy the dip at this position.

If the price cannot hold steady in the above support range, the possibility of further decline cannot be ruled out. It is worth noting that the global central bank annual meeting is about to be held, and its outcome remains uncertain, adding uncertainty to the market.

In the current market environment, investors should remain patient and operate cautiously to avoid potential risks. Not only Bitcoin (BTC) is under pressure, but other mainstream cryptocurrencies such as Ethereum (ETH) and Solana (SOL) may also be affected.

Overall, the cryptocurrency market is in a sensitive period, and investors need to closely monitor the trends in global macroeconomic policies, especially the potential impacts of the upcoming central bank annual meeting. In this context, maintaining vigilance and a flexible investment strategy is particularly important.