#比特币市场动态# The recent market trends are indeed remarkable. Over the weekend, the crypto market showed a strong rebound momentum, with Bitcoin briefly breaking through $122,000, almost reaching its historical high. This wave of rise not only erased last week's fall but also highlighted an increasingly obvious positive correlation with the stock market.

It is worth noting that Ethereum's performance has been particularly eye-catching, rising 21% in seven days and breaking the $4,300 mark for the first time, setting a new high since 2021. This comprehensive rise seems to confirm that overall risk appetite is on the rise.

However, we cannot ignore the upcoming CPI data release. The market expects the annual inflation rate to rise to 2.8%. If the data comes in below expectations, it could further solidify expectations for a Fed rate cut in September. Conversely, CPI data that is higher than expected may lead to a pause in the rise, and the market may adjust accordingly.

Currently, some traders have begun to adopt hedging strategies, increasing the demand for Bitcoin put options in the range of $115,000 to $118,000 to guard against unexpected falls. This defensive action coexists with the top buy orders to cover call options, reflecting the cautious attitude of market participants towards risk.

In my personal observation, it is necessary to closely monitor institutional demand and the inflow of funds into spot ETFs in the near future. Although the price is at a key resistance zone and profit-taking may occur, the market has recently successfully absorbed a large amount of selling pressure without losing momentum, which is commendable.

Overall, based on the current data and market performance, I tend to maintain a structurally bullish judgment. However, it is also important to remain vigilant and closely monitor the market reaction after the release of the CPI data, as well as changes in the flow of institutional funds.