Bitcoin futures open interest surged to $72 billion, indicating that institutional leverage is continuing to ramp up, and market sentiment is increasingly optimistic. The current price is close to $107,000, with about $1.2 billion in short positions facing liquidation risk. If it breaks through the key resistance level, it could trigger a 'short squeeze' rally. The current macro backdrop also supports bullish sentiment: the U.S. debt problem remains unresolved, demand for long-term government bonds is weak, and the Federal Reserve may be forced to intervene, which undoubtedly puts pressure on the dollar and encourages funds to flow into hedge assets like Bitcoin. Additionally, some countries and institutions are gradually allocating part of their gold or fiat currency reserves into Bitcoin. If this trend continues, even a 5% inflow of gold could result in billions of dollars of incremental funds. Driven by the resonance of institutions and macro factors, breaking through Bitcoin's historical high is no longer a fantasy. There may be significant volatility in the short term, but the medium to long-term trend remains promising. However, caution is needed as the $110,000 level could lead to a serious pullback. $BTC #特朗普晚宴