This round of market is quite different from the past; it is no longer a frenzy of retail investors but an epic market led by institutions and the government. BTC has shifted from being driven by the past halving cycles to being institutionally led after the introduction of ETFs. The traditional four-year cycle is no longer applicable, and the market has entered a phase of clear long-term bull market, with retail investors holding less and less BTC. At this time, if the United States passes the stablecoin bill, the funding pool in the crypto market will significantly increase, and the rise in BTC prices will promote the growth of stablecoin scale, thereby absorbing more US Treasury bonds, entering a relatively healthy cycle.

However, there is a noticeable issue; beneath the dazzling new high of BTC, there is the silence of ETH and many altcoins. It is still unclear whether the market will catch up, and it is generally difficult to see, but there is a possibility. At least as of now, it seems that after the new high, BTC's performance is a bit weak, with insufficient upward momentum, and the overall market liquidity is still relatively weak. This indicates that the real bull market may still need to wait for some time, waiting for the day of interest rate cuts to be truly confirmed! #比特币突破11万美元 #BTC再创新高 #Strategy增持比特币