According to CoinMeta, according to the latest weekly report from DWF Labs, Bitcoin rose 23.6% last week to around $77,700, achieving its best single-week performance since March 2023. ETH, ZEC, XRP, and HYPE among other altcoins saw even larger increases. DWF Labs believes that this round of gains was mainly driven by the U.S. Treasury Department's expansion of long-term U.S. debt repurchases, improved regulatory expectations, and inflows of ETF funds, rather than leverage: last week, the total net inflow of BTC and ETH spot ETF amounted to about $2.6 billion, and the open interest in crypto futures rose to $137.5 billion. However, the OI denominated in coins remained basically unchanged, and the funding rates for mainstream coins were still low. They judge that the current market situation is more closely related to short squeeze combined with spot buying, and the market structure is relatively healthy. The main risk lies in whether the spot buying can continue.