According to Bloomberg, Bitcoin rose about 1% to $48,436 on Monday in Singapore time, rising for the seventh consecutive day and marking the longest consecutive rise since January 2023. Since the nine new spot Bitcoin funds listed in the United States began trading on January 11, the price of Bitcoin has exceeded $49,000. Since then, investors have taken profits and the price of Bitcoin has experienced a multi-day correction of $10,000. Currently, Bitcoin has rebounded to around $50,000, a level last seen in 2021. In addition, Asia is in the midst of the Lunar New Year holiday, and Fundstrat Global Advisors said in a report that market sentiment for Bitcoin during this period is generally positive. Currently, Bitcoin is still below its all-time high of about $20,000 set in 2021.