Driven by institutional investors, the price of Bitcoin broke through the $8,800 mark in one fell swoop, an increase of more than 9%, triggering heated discussions in the market. This unexpected rise made investors' eyes light up, and the market weather vane seemed to be quietly changing.

From a technical perspective, the rapid rise in Bitcoin prices is due to the large-scale intervention of institutional investors. The huge amount of funds and professional operating techniques of these institutional investors have brought a strong driving force to the market. Their intervention not only pushed up the price of Bitcoin, but also injected confidence and vitality into the entire cryptocurrency market.

The surge in Bitcoin prices also reflects the market’s optimism about cryptocurrencies. As the uncertainty of the global economic situation intensifies, investors' demand for safe havens in traditional assets is increasing, and digital assets such as Bitcoin have become one of the most popular hedging options. Against this backdrop, the rapid rise in Bitcoin prices is no accident.

On the other hand, the scarcity and decentralization characteristics of Bitcoin itself are also one of the important reasons for the price increase. As a global digital gold, the total amount of Bitcoin is limited, which gives it the functions of anti-inflation, preservation and appreciation. At the same time, the decentralized nature of Bitcoin also makes Bitcoin widely recognized and usable around the world, providing a solid foundation for its steady price increase.

In addition, the rise in Bitcoin prices has also been affected by the global political and economic situation. Affected by uncertainties such as trade wars and economic recession, investors' confidence in traditional financial markets has gradually shaken, and digital assets such as Bitcoin have become a new hedging option. This global market sentiment has also driven the rise in Bitcoin prices to a certain extent.

Overall, the rapid rise in Bitcoin prices is the result of a combination of factors. Factors such as the involvement of institutional investors, the market's optimism about cryptocurrencies, the characteristics of Bitcoin itself, and the global political and economic situation are intertwined, which have jointly promoted the surge in Bitcoin prices. In the future, as the cryptocurrency market continues to develop and mature, Bitcoin price fluctuations will inevitably become the norm in the market. Investors need to remain vigilant, view market changes rationally, and make wise investment decisions.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

On May 27, data from the global currency price website CoinMarketCap showed that Bitcoin broke through strongly to $8,858.53 in the morning session, with the largest intraday increase of 9.62%, and a total market value of more than $150 billion. Driven by the Bitcoin market, the rest of the mainstream currencies generally followed suit, and the top five digital currencies by market value all rose by more than 7% in 24 hours.

Bitcoin price trend on the 7th

According to CoinMarketCap data, Ethereum (ETH), which ranks second in market value, reported $266.01, a 24-hour increase of 7.02%; Ripple (XRP), which ranks third in market value, reported $0.41, a 24-hour increase of 7%; Bitcoin Cash (BCH) is currently priced at $432.40, up 8.64%; and Litecoin (LTC) rose by 12.42%, reaching a staged high of $113.21. In the rebound that lasted for more than an hour this morning, the total market value of digital currencies was pushed up to $260 billion.

Some analysts believe that this round of digital currency rally is related to the results of populist and extreme forces prevailing in the polls of parliamentary elections in some EU countries, but others believe that the more likely reason is that in the context of global trade tensions, risk aversion continues to drive the demand for digital currencies, and the increasing number of institutional supporters is the main driver behind this round of market.

In fact, after entering 2019, Rothschild AF COIN, JPMorgan Chase, US Internet brokerage TD Ameritrade and many other large financial institutions have reported major progress in digital currencies, which has greatly encouraged investors' confidence. In January 2019, Chase Gao, co-founder of BitAsset, revealed that many traditional financial institutions in China and the United States have begun to enter the market, and the transaction volume of these institutions may have exceeded 50%. According to Bloomberg, Fidelity Investment Group, the world's largest asset management company, is about to launch Bitcoin trading services.

At the same time, for institutional investors, due to the large amount of funds, Bitcoin is likely to become the first choice for traditional financial institutions to enter the market, thereby further pushing up Bitcoin prices. Kevin Rooke, a cryptocurrency analyst, recently listed the daily transaction volume rankings of Bitcoin and major U.S. payment networks on Twitter. Visa ranked first with a daily transaction volume of $30.3 billion, followed by Mastercard with a daily transaction volume of $16.2 billion, while Bitcoin ranked third with a transaction volume of $6.3 billion.

Regarding the future price trend of the currency, the currency circle person believes that the repeated "falling when it should have" has boosted the confidence of Bitcoin bulls. Since the key point of $8,300 has been broken, the space above has been opened. Bitcoin may encounter certain interceptions at $9,000, but the greater pressure is around $10,000. "The last time it reached $10,000 was in the public chain market last year. Bitcoin passively followed the rise driven by the expectations of public chains such as EOS. With the profit-taking and Bitcoin's repeated failures to break through the key point of $10,000, the whole market ended." The industry insider also pointed out that the $10,000 indicator is not only a technical pressure, but also a psychological pressure on investors.