#比特币市值 $BTC

· Institutional capital inflows: The approval of spot Bitcoin ETFs in the U.S. has brought a large amount of traditional capital to the market. For example, BlackRock’s IBIT attracted $60 billion in assets under management within 18 months.
· Improving regulatory environment: A shift in the U.S. government’s stance toward cryptocurrencies, along with the advancement of relevant bills, has boosted market confidence.
· Market structure maturing: Annual on-chain trading volume for stablecoins reaches $12 trillion, while the value locked in DeFi protocols is about $185 billion, indicating that market infrastructure is continuously improving.