The recent cryptocurrency market has shown a noticeable rebound trend. Here is the relevant analysis:

Current Situation

The cryptocurrency market has exhibited an upward trend recently. Bitcoin has broken through $97,000, up 3.16% in 24 hours, while Ethereum has risen 2.00%, reaching over $1,800. Additionally, several sectors have also increased to varying degrees, such as the PayFi sector up 2.86%, the AI sector up 2.05%, and the NFT sector up 1.77%. On May 8th, the total market capitalization of cryptocurrencies surpassed $3 trillion, reaching an eight-week high with a single-day increase of 2.5%.

Reasons

- Macroeconomic Policy Factors: Federal Reserve Chair Jerome Powell announced that the United States will maintain the target interest rate at 4.25% to 4.5%, suggesting that the economy may face stagflation risks, leading investors to see Bitcoin as a hedge against currency devaluation and inflation pressures. Trump announced a trade agreement with the UK, easing global trade tensions and boosting investment confidence in risk assets. Several U.S. states have enacted legislation allowing cryptocurrencies to be included in strategic reserves, injecting confidence into the value of cryptocurrencies. The new SEC Chair, Paul Atkins, has taken office and addressed