Bitcoin has performed strongly recently, rising over 20,000 points in the past 13 days, reaching a historic high of $1,233 at one point. This wave of pump has led to a large liquidation of short positions. However, market sentiment may be about to change.

The sudden changes in the international political situation may impact the cryptocurrency market. Trump announced a 100% tariff on Russia, and the EU has also taken countermeasures. These geopolitical factors may pose a liquidation risk for long positions exceeding $120,000.

From a technical analysis perspective, Bitcoin's four-hour chart shows that the Bollinger Bands have started to contract and move down after expanding upwards, which may indicate that the upward momentum has run out in the short term. The market may require a certain degree of correction to digest the recent pump. Investors should closely monitor the support range between $1185 and $1170.

As the second largest cryptocurrency in the market, Ethereum's trend often maintains a certain correlation with Bitcoin. Currently, Ethereum's key resistance level is in the range of $3010 to $3040. If it fails to break through, it may fall back to the support area of $2950 to $2920.

Overall, the cryptocurrency market may face short-term adjustments after reaching new highs. Investors should comprehensively consider technical, fundamental, and macroeconomic factors when making trading decisions, remain vigilant, and manage risks appropriately.