The Bitcoin market has recently shown a positive trend, with prices significantly rebounding from the low points at the end of July, currently climbing to around $116,000. Over the past week, the price of Bitcoin has increased by nearly 5%, presenting a bullish technical formation at the current price level. Meanwhile, the daily trading volume of Bitcoin remains stable at $57 billion, accounting for over 58% of the total market capitalization of the cryptocurrency market.

The change in the policy environment has played an important role in driving this round of price increase. Reports indicate that the Federal Reserve is considering establishing a Bit strategic reserve through the valuation gains of gold reserves for the first time. In addition, the White House recently released its first cryptocurrency policy report, providing a clearer framework for industry regulation. These signs suggest that regulatory agencies are gradually accepting and valuing cryptocurrency.

The active participation of institutional investors has also injected confidence into the market. Data shows that within 48 hours at the end of July, institutional investors net bought 30,000 Bitcoins. Harvard University even invested $116 million to purchase Bitcoin ETFs, demonstrating the recognition of traditional financial institutions of Bitcoin as a new type of reserve asset.

With the improvement of the policy environment and continuous inflow of institutional funds, the Bitcoin market seems to be entering a new stage of development. However, investors still need to be cautious and closely monitor regulatory trends and market changes.