In the first half of 2025, the Bitcoin market showed remarkable growth, despite some fluctuations, the overall trend remained positive. On May 21, the price of Bitcoin first broke through the $109,000 mark, setting a new historical high. Even more exciting for investors, just three months later on August 13, Bitcoin again set a record, breaking through $124,000. Analysts generally believe that this astonishing increase is the result of multiple factors working together, including market expectations of a possible interest rate cut by the Federal Reserve, the continued influx of institutional funds, and the favourable information policies gradually introduced by various countries to boost cryptocurrency.

From the perspective of the overall market scale, the total market capitalization of Bitcoin has surpassed 4.18 trillion USD in the first half of 2025, demonstrating a strong growth momentum. It is particularly noteworthy that the participation of institutional investors has significantly increased, with 16.7 billion USD of institutional funds flowing into the Bitcoin market at the beginning of 2024. Although market activity in the first half of 2025 has decreased, the actual market value of Bitcoin has still climbed to a historical peak of 872 billion USD, fully reflecting the growing confidence of investors in this digital asset.

However, the Bitcoin market is not without its challenges. On September 22, the price of Bitcoin briefly fell below $112,000, leading to over $4 billion in long positions being forced to liquidate. This event once again reminds investors of the inherent high volatility risks in the Bitcoin market.

Looking ahead, the industry generally believes that Bitcoin has entered the mid-stage of a bull market cycle, but there is still significant room for retail investor participation to increase. Some well-known institutions continue to accumulate Bitcoin, such as the ongoing investments by Michael Saylor's company, as well as the gradually improving cryptocurrency regulatory frameworks in various countries, such as the advancement of the "Genius Bill" in the United States, which lays a solid foundation for the long-term development of Bitcoin.

In addition, Bitcoin's position as the global settlement layer remains solid, and on-chain transaction volumes continue to stay at a high level. For investors looking to enter this market, Bitcoin's strong performance and ongoing institutional favor undoubtedly signal potential growth opportunities. However, investors also need to fully recognize the high volatility of the market, adopt cautious investment strategies, and conduct comprehensive risk assessment and management.