The three main driving forces for support rise

1. Large institutions and policies are providing support behind the scenes.
Institutions are buying in crazily: giants like strategic companies have already accumulated over $57 billion worth of Bitcoin, and they continue to increase their positions. Even traditional big players like the Abu Dhabi sovereign fund and the Norwegian pension fund have entered the market, indicating that Bitcoin is increasingly recognized by the mainstream. Favorable policies: Several states in the United States are promoting legislation to include Bitcoin in government reserves, which is equivalent to giving Bitcoin "official certification." 2. Continuous capital inflow into the market The capital entering the market through Bitcoin funds (similar to stock funds) has recently increased by $2.9 billion in the last two weeks, directly driving this wave of pump. Historically, this scale of capital inflow often corresponds to a subsequent surge. 3. The technical aspect is releasing positive signals.
The long-term trend line support on the weekly chart for Bitcoin shows that the price is firmly above the 20-week moving average, which is a typical bullish signal. A bullish "cup and handle" pattern has appeared on the daily chart, and in the past, when this pattern appeared, Bitcoin has averaged a rise of over 40%.