ChainCatcher news, the latest analysis from OKG Research of OKEx Academy shows that the key ratio in the Bitcoin market has fallen to its second lowest historical point since November 11. This change not only maintains the healthy profitability of miners but also stabilizes the Bitcoin ecosystem, boosts miner confidence, and reduces the risk of sell-offs due to cost pressures.

The decrease in the ratio is primarily attributed to three major positive developments. First, MicroStrategy has been included in the NASDAQ index, which means that investors will passively allocate Bitcoin when purchasing the index, further promoting the institutionalization trend of Bitcoin. Second, the implementation of FASB fair value accounting rules allows companies to optimize their financial reports by holding Bitcoin, potentially accelerating its adoption in corporate asset allocation. Finally, expectations of interest rate cuts by the Federal Reserve have increased, creating a favorable macro environment for the Bitcoin market.