Recent key factors supporting the surge in Bitcoin prices, in addition to widespread rumors that U.S. presidential candidate Donald Trump will establish a 'Federal Bitcoin Reserve', include public companies like Riot Platforms and MicroStrategy investing billions of dollars in Bitcoin.
At the same time, the market is optimistic about the direction of U.S. cryptocurrency policy, further driving a substantial influx of funds into Bitcoin spot ETFs, boosting Bitcoin prices.
Augustine Fan, head of research at SOFA Insights, pointed out: 'The inflow of traditional financial capital has become a key force dominating Bitcoin prices and market sentiment, which is distinctly different from previous cryptocurrency bull markets.'