Bitcoin broke through a new high of 126,000 USD on October 6, 2025, then retreated about 30%. From the latest market trend, the release of US CPI data shows inflation easing, which helps to further boost market expectations of interest rate cuts. Encouraged by this, the crypto market experienced a short-term rebound, with Bitcoin once surpassing 97,860 USD, hitting a recent high. Peng Yunxian, founder of the cryptocurrency exchange HOYA BIT, analyzed that this wave of market movement is essentially a dual overlay of "rising expectations of rate cuts" and "macro hedging demand."

Peng Yunxian stated that the uncertainty of the US dollar directly triggers a demand for safe-haven assets. The investigation into Powell has raised concerns about monetary policy uncertainty, leading to a weakening of the dollar. When the dollar weakens, it not only prompts funds to seek safe havens but also creates a "denominator effect," making dollar-denominated assets like Bitcoin and precious metals such as gold relatively more affordable.