With inflation peaking and employment data remaining robust, this combination alone is enough to attract funds into risk assets in traditional finance. Currently, both the crypto market and US stocks are simultaneously strengthening, what does this reflect? Simply put, the market is pricing in a relatively optimistic future — Bitcoin, as a digital gold benchmark, is beginning to show its value advantage at this juncture.

If we talk about any noteworthy concerns at present, a few points should be kept in mind. First, the final ruling from the US courts regarding tariffs—once this is finalized, trade policies could change, and the market's optimistic sentiment could quickly reverse. Second, the situation in Venezuela and Iran—any unexpected escalation could disrupt the current market rhythm. Third, frankly, the current price levels have already priced in many known risk factors.

From the institutional trading perspective, their approach is straightforward: as long as no real shock events occur, any pullback is an opportunity to buy the dip. This reflects confidence in the continuation of the current trend. On the technical side, Bitcoin has broken through a key resistance level, and combined with the 'store of value' narrative, its strength is further reinforced.

Overall, the market's risk appetite is currently high, and the known risks have largely been digested. If there are no black swan events, the logic of buying on dips remains valid.