#BTC#

In April 2025, the Bitcoin market experienced a thrilling price roller coaster, from a sharp decline at the beginning of the month triggered by Trump's tariff policy, to a strong rebound in the middle of the month due to institutional accumulation and policy easing, followed by a high position adjustment at the end of the month, perfectly illustrating the characteristics of "Bitcoin season." This month, Bitcoin's market capitalization share rose to over 62%, setting a historical high, indicating a trend of market funds concentrating on Bitcoin. In an environment of persistently high policy uncertainty, Bitcoin has shown remarkable resilience; although its correlation with U.S. stocks once fell to 0.65, it still has not completely decoupled from traditional risk assets, becoming a safe haven for global capital amid geopolitical turmoil. Looking ahead, as the Federal Reserve's policy path gradually becomes clearer and institutional allocation demands continue to be released, Bitcoin is expected to challenge the psychological barrier of $100,000 in the short term.