BlockBeats News, May 16th, Matrixport released its weekly report stating that Bitcoin has rebounded to the upper boundary of the consolidation range ($106,000). Driven by multiple bullish catalysts, the market generally expects it to break through its all-time high. With the gradual easing of downside risks in this stage, the upward path of Bitcoin's price has become increasingly clear. Recently, Trump's shift in focus towards fundraising and trading partnerships has further boosted market optimism towards both the stock market and Bitcoin. If the tax reduction policy of the Trump era continues, coupled with potential regulatory relaxation measures, it may further boost market expectations for economic growth, driving a reassessment of growth prospects and bond yield repricing.

In the current context, risk assets, especially Bitcoin, are expected to welcome a favorable trading window before July. This period coincides with the end of the 90-day tariff truce agreement, the start of the second-quarter earnings season, and the peak level of the liquidity indicators we track. Another important catalyst is the upcoming credit payment process to be launched by FTX, targeting accounts with credit amounts exceeding $50,000, expected to start around May 30, 2025. This round of payments is expected to distribute around $5 billion in stablecoins, with a significant portion of the funds possibly re-entering the crypto market. This additional liquidity may drive market momentum in June, resonating with the continued inflow of funds into Bitcoin ETFs and active stablecoin trading.

Since Bitcoin broke through the $84,500 technical level in mid-April, it has consistently maintained a constructive bullish view. Despite Bitcoin's rise of about $20,000 (approximately 25%), we still believe that the upward momentum is not exhausted, and the trend is expected to continue into the summer.