Recently, the price of Bitcoin has experienced a strong surge, breaking through the 110,000 yuan barrier, attracting widespread attention from the market. Behind this wave of increase, there are multiple factors at play.

First, positive signals have emerged at the policy level. The U.S. "GENIUS Stablecoin Act" has passed the Senate procedural motion and is about to enter the full voting phase. This is the first time federal regulations have been developed for stablecoins in the U.S., and if ultimately passed, it will provide a clear regulatory framework for the stablecoin market, granting it legal status. This development not only benefits stablecoins but also injects confidence into the entire cryptocurrency industry. At the same time, Hong Kong has proactively passed the "Stablecoin Ordinance," further enhancing global investors' confidence in the regulatory prospects for cryptocurrencies.

Secondly, the large-scale entry of institutional funds into the market has become another important factor driving the rise in Bitcoin prices. Several publicly listed companies have begun to lay out plans for crypto assets, such as the Nasdaq-listed company Cosmos Health, which has reached a securities purchase agreement with investors worth up to $300 million to carry out an Ethereum treasury strategy. These traditional enterprises' investments in crypto assets demonstrate their long-term optimism about this emerging market and also bring considerable capital inflow to the market.

In addition, the continuous accumulation of Bitcoin by large asset management companies is also a significant trend. According to reports, BlackRock holds over 620,000 Bitcoins, while MicroStrategy holds approximately 580,000. The ongoing purchases by these institutions not only lock up a large amount of circulating Bitcoin but also trigger more investors to follow suit.

Overall, the improvement of the policy environment and the continuous inflow of institutional funds have jointly driven this wave of Bitcoin price increase. As the cryptocurrency market gradually matures and becomes more regulated, it may attract more participation from traditional financial institutions and individual investors in the future. However, investors should remain cautious and closely monitor market trends and potential risks.