Matrixport released a weekly report stating that the U.S. economy still shows strong resilience. The narrowing of credit spreads has reduced the cost of corporate refinancing and to some extent alleviated the impact of tariffs. Against this background, companies are accelerating the introduction of artificial intelligence to improve operational efficiency and provide additional support for risk assets. Historical data shows that the narrowing of credit spreads often accompanies a strong stock market and Bitcoin, these factors together increase the likelihood of the continuation of this round of Bitcoin market. The core risk of the current trend still lies in inflation. Although the inflation rate remains higher than the target, our model predicts that it will fall below 2.0% in the next few quarters, meaning that the Federal Reserve is likely to extend its loose period. This judgment is at odds with the mainstream market expectations, as the market generally believes that fiscal injections and deglobalization will keep inflation at high levels for longer. However, considering the continuous decline in energy prices and the background of falling housing costs, the likelihood of inflation remaining above 3.0% in the long term is not high. Although the core driving factors of the next round of Bitcoin market are not yet clear, a new round of upward momentum is gradually forming.