The dominance of Bitcoin in the cryptocurrency market has been steadily climbing since mid-April, reaching close to 56.67% on Friday, reflecting the trend where investors tend to allocate funds to the relatively stable and mature Bitcoin in the face of market uncertainties. At the same time, the poor performance of the newly approved spot Ethereum ETF in the US further boosted investors' confidence in the Bitcoin market. This "risk-off sentiment" heating up provides strong support for the rise in Bitcoin prices. In the context of increasing global macroeconomic uncertainty, more and more investors and institutions are turning their attention to digital assets such as Bitcoin. According to on-chain data analysis, over the past nine days, a "smart whale" withdrew approximately $75 million worth of 1,147 Bitcoins from Binance, showing significant signs of market fund flows. In addition, long-term Bitcoin holders are also actively increasing their holdings, regardless of market price fluctuations, maintaining their firm confidence. The plan of the Jersey City Pension Fund to purchase Bitcoin ETFs, as well as Marathon Digital's purchase of $100 million worth of Bitcoin through its HODL strategy, all indicate that institutional funds are continuously flowing into this market. From a technical perspective, Bitcoin's price trend also shows positive signs. Bitcoin's hourly Relative Strength Index (RSI) has broken the downward trend, showing an increase in buying power in the short term. On the daily chart, Bitcoin price has continued to close above the 50 and 200 moving averages (MA), which is a strong bullish signal. If Bitcoin price can maintain above the support/resistance level of around $68,000 in the next few days, it is not impossible to reach the target of $70,000 by the end of this month. Although the overall market sentiment is currently optimistic, caution is still necessary. The cryptocurrency market has always been volatile, and any unexpected event can trigger significant price fluctuations.