According to online reports, Bloomberg pointed out that although the rise of cryptocurrencies relies on Wall Street's overall risk appetite, analysts believe that a large number of new corporate buyers have emerged in this cycle, which is different from the past. Bitcoin futures showed no weakening in bullish momentum, while in the perpetual contract market (a popular way for traders to leverage to participate in the cryptocurrency market) long demand outstripped short bets. Analysts pointed out that Bitcoin broke through the range of US$119,500 to US$120,000 and the increase in trading volume reflected continued buying interest. Continued breakthroughs of US$122,000 may open a path to US$124,000 to US$125,000, but the market is not without flaws. Wall Street underestimated the possibility of Trump returning to a protectionist line, and escalating trade tensions could break this situation.