Bitcoin (BTC), as the pioneer of the cryptocurrency realm, has attracted widespread attention and discussion globally since its inception in 2009. It is based on blockchain technology, realizing a decentralized digital currency trading system without the need for traditional financial institutions to intervene. Transaction records are permanently stored on the blockchain, possessing the characteristic of immutability. The total supply of Bitcoin is set at 21 million coins, and this scarcity has led some investors to regard it as 'digital gold', which has certain hedging properties. However, its price fluctuations are extremely volatile, potentially skyrocketing or plummeting within a short period. For instance, in 2021, it once surpassed the $60,000 mark, but then dropped significantly. This high volatility poses enormous investment risks. Furthermore, Bitcoin's anonymity in transactions is also highly controversial; on one hand, it provides protection for user privacy, but on the other hand, it can easily be used for illegal transactions and other gray area activities, raising significant concerns among regulatory agencies worldwide. With the continuous development of the cryptocurrency market, the future direction of Bitcoin and changes in regulatory policies remain the focal point of global investors, regulators, and technology developers.