Bitcoin officially broke through the historic new high of $100,000, with market sentiment turning bullish across the board, and funds from institutions and retail investors pouring in. ETF capital inflows continue to increase, indicating that traditional capital markets are further accepting BTC as an asset allocation tool. Miner revenues hit a new high, and on-chain transaction activity has significantly increased. The main reasons for this wave of increase include: macroeconomic hedging demand, halving effects, and ETF effects overlapping. Short-term volatility is intensifying, and investors are advised to pay attention to risk management. Key observation points: large on-chain transfers, stablecoin inflows, and changes in exchange inventory. BTC breaking through $100,000 is a historic milestone and also represents that blockchain assets are gradually moving towards the mainstream financial system.