The pancake market presents a differentiated pattern: the turnover rate of pancakes continues to decline, the inflow of ETF funds slows down, and the $120000 mark has been under pressure multiple times but has not been firmly established. The increase in Ethereum trading activity may lead to the weekend market trend of altcoins. 115000 US dollars has become a key support, currently priced at 118100, but there is still room for short-term correction. The overall market trend is upward, and the future direction depends on the recovery of buying momentum. In the absence of significant negative factors, it is expected to maintain a high level of volatility and consolidation before rising upwards! Suggestions for operating pancakes: Intraday support level: 115000-116000 can be long Intraday pressure level: 122000-123000, do not short Ethereum operation suggestion: Intraday support level: 3423-3460 can be long Intraday pressure level: 3620-3675. Do not short