#美国核心物价涨幅不及市场预估 The recent market movement is quite interesting. BTC has surged to 97,000, and in just one day, short sellers have been liquidated for nearly $600 million—this scale can already be considered a slaughter. The strange part is that there are no new macroeconomic positives; interest rate hikes are still ongoing. Where does this crazy upward momentum come from?🔥

Breaking it down carefully, the core logic boils down to these three points:

**First, institutional capital gates suddenly open.** The long-silent spot ETF has recently seen a huge influx, with a daily net inflow of $75 million. The gains during North American trading hours are especially fierce. This signal couldn’t be clearer—large funds are quietly re-entering the market.

**Second, regulatory battles are heating up.** The US CLARITY Act crypto legislation has entered a critical voting stage. Although there are continuous calls from various parties afterward, this game itself hints that heavyweight capital is positioning itself in advance of policy certainty.

**Third, on-chain locking volume hits a new high.** Over 36 million ETH are firmly staked in staking protocols. Meanwhile, corporate holders are still desperately accumulating BTC. Actions by smart money are often more trustworthy than any public sentiment.

To put it plainly, the underlying market structure is undergoing a major change. Those old cyclical patterns may no longer be effective. Ultimately, where this goes next depends on whether incremental funds will splash out from mainstream coins and when retail investors’ attention will truly shift. The market is right in front of you—are you going to continue to watch coldly, or keep up with the rhythm?