According to online reports, BitfinexAlpha's latest report shows that the Bitcoin market is undergoing structural changes. Although the price of BTC fell below US$100,000 due to Trump's tariff policy, institutional investors continued to increase their holdings to show market resilience. MicroStrategy increased its holdings of 10,107 bitcoins with US$1.1 billion, bringing a total position to 158,400, and submitted a financing application to the SEC to prepare for future increases; Japanese-listed company Metaplanet completed a US$745 million financing to expand bitcoin reserves to hedge the risk of yen depreciation. BTC recorded a 10% increase in January 2025, and prices have been consolidated within the 15% range in the past 65 days. At the macro level, Bitcoin's correlation with traditional markets has increased, and its 30-day correlation with the S & P 500 has reached 0.8, a five-month high. The Federal Reserve kept interest rates unchanged at 4.25%-4.50%, inflation remained above the 2% target, and the core PCE remained at 2.8% year-on-year. At the same time, Tether is integrating its US$140 billion USDT into the Bitcoin Lightning Network to improve online payment efficiency through Taproot Assets technology and promote Bitcoin's transformation from a value store to a payment network.