According to CoinMeta, Arthur Hayes claims that the Bitcoin bull market has begun, with the price of Bitcoin breaking through $80,000 on August 25th. He linked this increase to the Treasury's bond repurchases and the possible release of cash from the Treasury Department's general accounts, suggesting that these measures could increase the liquidity of the US dollar, which is beneficial for scarce assets. Although the policy connection is a market theory rather than an official guarantee, the new demand from ETF also supports this trend, making this rebound different from a purely speculative rise. According to CoinGecko data, the price of Bitcoin has reached its highest level since mid-May, with an increase of 28% in August, and it is expected to be the strongest month since November 2024. The weakening of the US dollar has also promoted demand for alternative assets, including Bitcoin and gold. The US-listed Bitcoin ETF attracted $337.56 million in capital inflows on August 24th, marking the sixth consecutive trading day of net inflows. Hayes also stated in an article on August 24th that Bitcoin will benefit first from increased US dollar liquidity and warned that the bull market could bring about unusually large price fluctuations.