#BTC discusses the objective reasons why Bitcoin must break through and stabilize at 110,000 to welcome a big bull market.

1. Countries represented by the United States are entering the market with reserves, and state governments are seeking to fund state-level reserves of Bitcoin $BTC and other cryptocurrencies. Other countries' governments have also publicly announced reserves.

2. Many publicly listed companies are openly raising funds to enter the cryptocurrency reserve market, which is highly recognized by the market. Once a company announces plans to reserve cryptocurrencies, stock prices quickly surge. The appreciation potential of reserved cryptocurrencies is significant, leading to a rapid increase in stock prices. It is rare for companies to be indifferent to such a good opportunity. Companies that legally hold cryptocurrencies typically do not possess small amounts, often exceeding the total holdings of many retail investors.

3. The rise of stablecoins: The U.S. has introduced legislation on stablecoins, which must be pegged to the U.S. dollar and U.S. debt. Even the Federal Reserve, which does not support national reserves of Bitcoin, has to endorse stablecoins, allowing the dollar to participate more deeply and broadly in international trade and enhancing its competitiveness.

Additionally, the governor of the People's Bank of China has publicly mentioned the matter of yuan stablecoins at meetings, aiming to capture a share of the stablecoin market. Recently, JD.com has generated significant interest in yuan stablecoins, and Hong Kong has long permitted the legal exchange of cryptocurrencies, making it a front-line testing ground for the launch of yuan stablecoins.

The prosperity of stablecoins has created a legitimate exchange channel for the flourishing of cryptocurrencies. Once people hold stablecoins, they cannot avoid purchasing cryptocurrencies such as Bitcoin, providing traffic for market demand.

4. Data shows that the number of addresses and amounts for long-term holding of cryptocurrencies are at unprecedented highs, with hoarding parties increasing.

Legal recognition, interest-driven demand, and the promotion of stablecoins linked to fiat money facilitate market participation. Many foresee the appreciation potential of cryptocurrencies, which will drive the emergence of a cryptocurrency bull market.