According to CoinMeta, as reported by CoinShares, the recent rise in Bitcoin has been mainly driven by macroeconomic factors rather than by developments within the crypto industry itself. Weaker inflation and employment data in the United States have led the market to reduce expectations for further interest rate hikes, while the increase in long-term U.S. Treasury yields reflects concerns about the sustainability of U.S. fiscal policy. This combination of a loosening monetary policy and increasing fiscal pressure is generally favorable for Bitcoin. CoinShares also notes that large investors have stopped selling and have begun to accumulate again. Bitcoin has broken through its 200-day moving average, but it may still remain within a range of fluctuations in the short term. The area around $80,000 is a key level. This week, digital asset investment products have attracted approximately $2.2 billion in capital inflows, with about $1.6 billion going towards Bitcoin products, marking the largest single-week inflow of the year.