With the end of the market bottoming phase, a series of economic and market factors are foreshadowing the inevitability of the subsequent upward trend. First, more and more mainstream companies are beginning to accept Bitcoin as a payment method. The leaders of this trend include large companies such as Microsoft, AT&T, Overstock and Tesla. Their participation has undoubtedly enhanced the market recognition and liquidity of Bitcoin.
Secondly, the approval of the Bitcoin spot ETF has brought new vitality to the market, attracting a large number of mainstream funds and institutional investors. The active participation of well-known investment institutions such as BlackRock and Wood Sister has further boosted the market's heat.
In addition, the negative impact of the Mentougou incident has gradually dissipated, and the situation of Grayscale's ETH smashing has also been effectively digested, which has greatly reduced the uncertainty factors in the market and created favorable conditions for subsequent increases.
At the same time, the expectation of a US interest rate cut and the loose monetary policy after the interest rate cut also provide the market with sufficient liquidity support. This policy environment helps to drive up asset prices.
Finally, the upcoming presidential election in November is also one of the focuses of market attention. The uncertainty of the election results may trigger market fluctuations, but it may also bring new opportunities for the subsequent upward trend.
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