According to CoinMeta and 10xResearch, Bitcoin ( BTC ) has rebounded by 32% from its low of $58,559 on July 1 and successfully returned to the 30-day moving average. This is the first time since the June decline that the price has broken through this average with genuine confidence. Currently, the Bitcoin price is above both the 7-day and 30-day moving averages, indicating a bullish signal, with a gain of 22.4% in the past week. This rebound was mainly driven by the U.S. Treasury Department doubling its long-term bond repurchase operations to at least $4 billion per time, which led to lower yields and the dollar, thereby broadly boosting risk assets. In addition, Trump called on Congress to pass legislation for the crypto market structure during a meeting with major crypto executives at the White House, bringing positive policy news to the market. This market volatility triggered the liquidation of over $1 billion in short positions, further amplifying the upward momentum. At the same time, there has also been net inflow into spot Bitcoin ( ETF ), reinforcing the bullish trend.