Recently, the cryptocurrency market has shown a significant rebound trend. Here is the relevant analysis:

Current Situation

The cryptocurrency market has exhibited an upward trend recently. Bitcoin has surpassed $97,000, rising 3.16% in 24 hours, while Ethereum increased by 2.00%, reaching above $1,800. Additionally, multiple sectors have seen varying degrees of growth, such as the PayFi sector rising by 2.86%, the AI sector by 2.05%, and the NFT sector by 1.77%. On May 8th, the total market value of cryptocurrencies exceeded $3 trillion, reaching an eight-week high with a single-day increase of 2.5%.

Reasons

- Macroeconomic Policy Factors: Federal Reserve Chairman Jerome Powell announced that the United States will maintain the target interest rate at 4.25% to 4.5%, suggesting that the economy may face stagflation risks. Investors view Bitcoin as a tool to hedge against currency depreciation and inflation pressures. Trump announced a trade agreement with the UK, alleviating global trade tensions and boosting confidence in investing in risk assets. Several states in the U.S. have passed legislation allowing cryptocurrencies to be included in strategic reserves, injecting confidence into cryptocurrency values. The new SEC Chairman Paul Atkins has taken office and is addressing