The recent strong rise of Bitcoin and the expectation of a bull market in the cryptocurrency sphere are the results of multiple macro policies, technological cycles, and market sentiment resonating together. As of April 2025, the price of Bitcoin has surpassed $85,000, rebounding over 15% from the low at the beginning of the year. The market generally believes that this round of bull market may continue until the end of 2025 or even longer, with a target range potentially reaching $150,000 to $200,000. The following are the core driving factors:

### 1. **Favorable Policies and Economic Hedging Demand**

The U.S. tariff exemption policy has alleviated the pressure on U.S. Treasury yields, prompting capital to shift towards risk assets. The 10-year U.S. Treasury yield has fallen to 4.4%, reducing the attractiveness of traditional fixed-income assets, while Bitcoin's narrative as an "inflation hedging tool" has been strengthened by increased uncertainty in trade policies. Furthermore, multiple U.S. states have passed the "Strategic Bitcoin Reserve Act," incorporating it into their financial assets, which further solidifies Bitcoin's legitimacy and attracts institutional investment.

**Gold Linkage and Global Liquidity Expectations**

After gold broke through the historical high of $3,357 per ounce, the logic of capital rotation may shift towards Bitcoin. Historical patterns show that Bitcoin often initiates a major upward wave within 100-150 days after gold hits a new high, coupled with an accelerated increase in global money supply (expected to reach $108 trillion by 2025), the liquidity transmission effect may become evident after May, driving Bitcoin to challenge $90,000. Additionally, the widening spread of U.S. Treasury yields and the lagging effect of the stock market further enhance Bitcoin's asset allocation value.

In the short term, caution is needed regarding the fluctuations caused by the repeated tariff policies of Trump, the Federal Reserve's interest rate policies, and miners' selling pressure. However, in the long run, the halving cycle, institutionalization process, and the weakening trend of U.S. dollar credit may lead to a breakout for Bitcoin in Q4 2025, targeting $150,000-$250,000. Investors should pay attention to macroeconomic data and capital rotation rhythms to seize structural opportunities in the bull market.

#加拿大推出SolanaETF #鲍威尔发言 #Metaplanet增持比特币 #币安2025Q1市占率 #Floki🔥🔥