$BTC Regarding Bitcoin (BTC), the relevant information is as follows:

• Price Performance:

• According to the latest market data, the price of Bitcoin recently hit a historic high, reaching $97,116.6 per coin, with an intraday increase of up to 1.03%.

• Bitcoin's price surged on the evening of November 20, 2024, with an intraday increase of 3.91%, breaking through the psychological barrier of $94,000.

• Market Dynamics:

• The strong rise of Bitcoin is benefiting from the U.S. approval of a Bitcoin spot ETF in 2024 and supportive regulatory trends for cryptocurrencies.

• The price ratio of Ethereum to Bitcoin has fallen to 0.032, the lowest level since March 2021, indicating Bitcoin's strength in the market.

• Investment Risks:

• Bitcoin investment faces various risks, including market risk, trading risk, operational risk, legal and regulatory risk, and expectation risk.

• Due to its production mechanism, market size, trading mechanism, and national recognition, Bitcoin has many differences from traditional currencies, which constitute its unique risks.

• Legality:

• In China, Bitcoin does not possess monetary attributes such as legal tender and enforceability, does not have the same legal status as currency, and cannot circulate as currency in the market.

• Some countries have banned the use of Bitcoin, while others have an open attitude towards Bitcoin, allowing for legal trading.

• Technical Analysis:

• The spot price of Bitcoin is above $25,000, which is the upper resistance level from May 2022 to March 2023. If it can hold, then Bitcoin is in a bull market, albeit a quiet one.

• ETF and Options Market:

• BlackRock's BTC spot ETF (IBIT) options market is performing strongly, with a bullish-to-bearish ratio of 4.4:1, highlighting institutional confidence in Bitcoin as a mainstream asset class.