$BTC Big Cake Breaks Through 110,000 New High, Is It the Prelude to a New Bull Market? In fact, it is not. Behind this lies the on-chain harvesting war that the United States is using to resolve the U.S. debt crisis. Before June 30, the U.S. must repay $6 trillion in debt, and the key now is to find a buyer for U.S. debt. It is important to note that in the past, the main buyers of U.S. debt were central banks and large institutions, but the situation has changed — the risk of a U.S. debt collapse has caused these main players to withdraw, not only stopping purchases but many countries are also accelerating their sell-offs. With the main players missing, the United States has turned its attention to individual investors. But why would individuals buy? The only way is to create the illusion of being 'profitable', so Bitcoin in the crypto circle is pushed into the spotlight, soaring to break previous highs, using false wealth effects to entice retail investors to enter the market. To put it bluntly, it is to let retail investors help the Americans take over the U.S. debt.