From a macro perspective, the market environment from January to February has been gradually stabilizing. Coupled with the release of several key signals, the fundamentals of this round of rally are actually quite solid. First, A16Z's new fund of 15 billion dollars explicitly focuses on crypto assets, indicating that institutional-level funds are accelerating their inflow. Additionally, the lifting of South Korea's ban on crypto investments has opened up an important regional market.

With these multiple positive factors stacking up, Bitcoin is expected to challenge the $100,000 mark next—this is not blind optimism but a judgment based on fundamental logic. Meanwhile, the situation with Ethereum is also worth paying attention to. After experiencing a sharp decline earlier, the momentum for a rebound is building, and a "revenge" rally is indeed worth looking forward to. The current price level actually offers a good opportunity for positioning.