According to Jin Ten, XS senior market analyst Giacomo pointed out that Bitcoin has fallen back to the $96,000 range from the high of $109,000 set in January, mainly due to factors such as US inflation data exceeding expectations, Trump's tariff policy and regulatory tightening. In the context of geopolitical uncertainty and stock market volatility, institutional investors are seeking safe haven assets. But he stressed that the Bitcoin ecosystem continues to show signs of long-term growth, and the increase in institutional adoption and the improvement of blockchain infrastructure will support its long-term trend.