Recently, the cryptocurrency market has seen a noticeable rebound. Here is the relevant analysis:

Current Situation

The cryptocurrency market has shown an upward trend recently. Bitcoin has broken through $97,000, rising 3.16% in 24 hours, while Ethereum has risen 2.00%, surpassing $1,800. Additionally, several sectors have experienced varying degrees of increase, such as the PayFi sector rising 2.86%, the AI sector rising 2.05%, and the NFT sector rising 1.77%. On May 8, the total market capitalization of cryptocurrencies surpassed $3 trillion, reaching an eight-week high, with a daily increase of 2.5%.

Reasons

- Macroeconomic Policy Factors: Federal Reserve Chairman Jerome Powell announced that the U.S. will maintain the target interest rate at 4.25% to 4.5%, indicating that the economy may face stagflation risks, leading investors to view Bitcoin as a hedge against currency depreciation and inflationary pressures. Trump announced a trade agreement with the UK, easing global trade tensions and boosting investor confidence in risk assets. Several U.S. states have enacted legislation allowing cryptocurrencies to be included in strategic reserves, injecting confidence into the value of cryptocurrencies. New SEC Chairman Paul Atkins has taken office and is focused on