#BTC突破99K Bitcoin Spot ETF saw a net inflow of $142 million in a single day, with ARKB ($54.7263 million) and Fidelity FBTC ($39.9190 million) leading the way. The total net asset value of Bitcoin Spot ETFs reached $112.712 billion, accounting for 5.86% of the total BTC market capitalization, with a historical cumulative net inflow exceeding $40.719 billion. The continuous influx of institutional funds has become an important support for price breakthroughs.

Federal Reserve Policy and Macroeconomic Environment

The Federal Reserve has maintained the federal funds rate at 4.25%-4.5%, with the market probability of a rate cut in July dropping to 57%. Although the decision is somewhat hawkish, it has already been priced in, and investors are more focused on geopolitical risks and economic data. Expectations for easing policies and inflation uncertainty are driving funds into risk assets.

Geopolitical Safe-Haven Demand

The escalation of the India-Pakistan border conflict (with Pakistan claiming to have shot down 5 Indian fighter jets) has increased the safe-haven demand for gold ($2500 per ounce) and Bitcoin. Some investors view BTC as 'digital gold', but the rise is more driven by short squeezes and speculative funds.