#2025Gate年度账单 #ETH走势分析 #成长值抽奖赢金条和精美周边 This round of Bitcoin bull run cycle
The driving force of this bull run
Macroeconomic environment: The Federal Reserve has started to cut interest rates (liquidity release), which is beneficial for risk assets.
Institutional funds: Bitcoin spot ETF has been approved in the US, with continuous inflows; ETH spot ETF is also gradually being implemented.
Rotation pattern: BTC rises first → ETH takes over → then altcoins.