$BTC

Recently, the price of Bitcoin (BTC) has been highly volatile, influenced by multiple factors. By the end of 2024, Bitcoin once surpassed $108,000 but then retreated to around $96,000. The market was shaken by optimistic sentiment regarding policies after Trump's election and expectations of regulatory loosening (such as the repeal of SEC's SAB121 restrictions). In early March 2025, Trump announced the inclusion of XRP, SOL, and ADA in the U.S. cryptocurrency reserves, pushing BTC to rise over 9% in a single day. However, during the same period, the market panic intensified due to a hack on Bybit exchange by North Korean hackers (resulting in a loss of $1.5 billion), causing BTC to briefly fall below $84,000, leading to over 170,000 liquidation events within 24 hours. Subsequently, some U.S. states postponed Bitcoin investment legislation, coupled with a cooling expectation of Federal Reserve interest rate cuts, further pushing BTC down to $91,000, with the number of liquidations in a single day reaching 310,000. Currently, the market is focused on institutional fund movements, such as continued inflows into spot ETFs and countries like El Salvador increasing their BTC holdings. The long-term bullish sentiment still exists, and analysts predict it may break through $200,000 by mid-2025.