Bitcoin has surpassed the $99,000 mark, reflecting the market's continued recognition of cryptocurrencies as an anti-inflation asset. This milestone is driven by institutional entry, expectations of the halving cycle, and global liquidity easing, while geopolitical risks have accelerated the demand for risk-off assets. From a technical perspective, breaking past previous highs may trigger FOMO (fear of missing out) sentiment to boost the rally, but one must be cautious of the risks associated with leveraged contracts and uncertainties in regulatory policies. Investors are advised to pay attention to changes in on-chain data, manage their positions prudently, and be wary of liquidation waves triggered by high-level volatility. In the long term, Bitcoin's scarcity and the value of the global payment network remain core support.