The recent surge of Bitcoin above $110,000, with a 7.17% gain in 7 days, is driven by multiple factors. The passage of the GENIUS Act in the US Congress paves the way for compliant funds to enter the digital asset market. The synchronized mild stances of the SEC and the Treasury on regulation offer a clearer policy outlook. Institution - led market trends, increased derivatives market activity, and higher leverage participation also contribute. Technically, after breaking through $100,000 on May 8, Bitcoin completed a bull - bear capital turnover during the high - level consolidation, with the MACD showing a "golden cross" as the 50 - day moving average crosses above the 200 - day one