The recent trend of Bitcoin has attracted market attention. From a technical perspective, the 4-hour chart shows that Bitcoin started to pull back after reaching the upper band of the Bollinger Bands. Various technical indicators such as KDJ, RSI, and MACD are all showing a downward trend, indicating that there may be some pressure in the short term. However, the bottom divergence pattern appearing on the 15-minute chart may provide some support for the price.

In terms of the macroeconomy, the latest announcement of a decline in unemployment claims indicates a continuous improvement in the labor market. This data could influence the Federal Reserve's monetary policy decisions, reducing the likelihood of a rate cut in September. Market traders' expectations for a rate cut in September have also weakened, which could lead to short-term selling pressure in the cryptocurrency market.

Nevertheless, some analysts still believe that a rate cut in September is highly likely, considering it crucial for stabilizing the overall economic environment. Therefore, there is still a certain basis for maintaining a medium to long-term optimistic attitude towards Bitcoin.

Investors need to remain cautious in the current market environment, following short-term trends while not forgetting the long-term direction. Currently, market participants generally believe that there is important support for Bitcoin prices around $111,200, while the target price above may be over $114,800.

Regardless, the cryptocurrency market is highly volatile, and investors should carefully assess risks, allocate assets reasonably, and avoid blindly chasing peaks and selling lows. At the same time, closely follow the global economic situation and changes in regulatory policies, as these factors may have a significant impact on Bitcoin prices.