On the $BTC Bitcoin spot ETF, there was 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 the historical cumulative net inflow exceeding $40.719 billion. The continuous influx of institutional funds has become a crucial support for the price breakthrough.

Federal Reserve Policy and Macroeconomic Environment

The Federal Reserve maintained the federal funds rate at 4.25%-4.5%, and the market's expectation of a rate cut in July decreased to 57%. Although the decision was somewhat hawkish, it has already been priced in, and investors are more focused on geopolitical risks and economic data. Expectations of loose policies and uncertainty around inflation are driving funds towards risk assets.

Geopolitical Risk Aversion Demand

The escalation of the India-Pakistan border conflict (Pakistan claims to have shot down 5 Indian aircraft) has increased the demand for safe havens like gold ($2500/oz) and Bitcoin. Some investors view BTC as “digital gold,” but the increase is more driven by short squeezes and speculative funds.