A large influx of capital into U.S. Treasury bonds and gold has laid the foundation for the rise of Bitcoin (BTC). Last week, U.S. Treasury bond funds recorded a net inflow of $19 billion, surpassing the peak during the pandemic in 2020 ($14 billion), while gold's share in global reserves surged to 18%, reaching a 26-year high. As foreign central banks reduced their holdings of U.S. Treasuries to the lowest level in 22 years, Bitcoin is benefiting from the global trend of de-dollarization. In 2023, as U.S. Treasury yields rose due to recession concerns, Bitcoin soared 47% in one month, while the Nasdaq index fell 8.7%. Now, with yields declining, liquidity improving, and global accumulation of gold accelerating, Bitcoin is expected to see a strong upward trend driven by institutional funds.