After the China-US trade agreement was reached, the price of Bitcoin (BTC) soared, breaking $105,000 and setting a new historical high. This policy eased global supply chain pressures, reduced market risk aversion, and accelerated the inflow of institutional funds into the crypto market, with institutions like BlackRock seeing net inflows of over $1 billion in ETFs in a single day. Analysts point out that if trade uncertainties are eliminated, the short-term safe-haven demand for Bitcoin may weaken, but in the long run, global market stability and expectations of interest rate cuts will attract more funds into the cryptocurrency sector. Caution is needed regarding the risk of a pullback triggered by short-term overbought conditions, and some traders have already begun to position for profit-taking.