Bull Returns Quickly? Collection of Market Bullish Views: $69500 Becomes a Key Turning Point for Bulls and Bears, Institutional Demand and Compliance Narrative Resurrected According to BlockBeats, on August 20th, after a long period of silence, the cryptocurrency market experienced a strong upward trend tonight. According to HTX data, Bitcoin rose above $69000 at one point and rose about 5.7% in 24 hours; Ethereum once broke through $2100, rising about 8.8% in 24 hours; The total market value of the cryptocurrency market has risen to about $2.4 trillion, with a 24-hour increase of about 4.7%. Recently, the bullish views of many market participants have also begun to emerge. Killa, a well-known trader who had previously predicted the downward path of Bitcoin's bear market perfectly, recently stated that Bitcoin has rebounded from low levels and waiting for a "perfect bottom" may lead to missing out on subsequent gains. His long-term goal is still above $150000 and he believes that the traditional four-year cycle may eventually change. Killa stated that the current 200 day moving average of Bitcoin is around $69500, and the next step is to wait for Bitcoin to break through and stabilize at the 200 day moving average; Once this action is completed, the market can be considered to have officially turned into a bull market. This viewpoint was further validated in tonight's market, as Bitcoin quickly rose and then precisely encountered resistance and fell back at the $69500 level. The narrative on the institutional side is also somewhat warm. Bitwise CIO Matt Hougan recently stated that the cryptocurrency market is re pricing "on chain assets that generate revenue," and some protocol valuations are expected to be revised upwards as real revenue is captured. Bitwise Europe also mentioned in its August report that institutional demand has shown signs of re acceleration, with ETP inflows, high supply from long-term holders, and stable demand from treasury companies all constituting potential support for the future market. Matt Hougan also stated on The Rollup podcast that Bitcoin is "numb" to bad news and the bear market may be nearing its end. It believes that among the asset management scale of the four major wealth platforms on Wall Street (Morgan Stanley, Wells Fargo, UBS, Bank of America Merrill Lynch) totaling about $20 trillion, as long as 1% -2% of encryption allocation is included, there will be continuous inflows of hundreds of billions of dollars. VanEck mentioned in a mid August report that Bitcoin may be approaching or entering the accumulation phase, with 8 out of 12 surrender signals triggered, and historical patterns suggesting a turning point may occur between September and November. Zach Pandl, the head of Grayscale Research, also stated at the end of July that he believes the bottom of Bitcoin's current bear market may occur earlier than the traditional four-year cycle. At the regulatory level, the market is also reassessing the weight of positive news, and the latest SEC Crypto draft may provide a clearer framework for token financing. If the compliant issuance path gradually opens up, the primary market, trading platforms, and on chain protocols may all welcome new incremental capital entry points. It is worth noting that earlier tonight, it was reported that President Trump is currently meeting with SEC Chairman Atkins, CFTC Chairman Selig, as well as executives from Coinbase, Ripple, Gemini, Polymarket, Kalshi, Nasdaq, NYSE, CME, and DTCC at the White House. This meeting is in preparation for the CFTC Innovation Advisory Committee meeting scheduled for Thursday. The rapid rise of Bitcoin tonight was achieved during the meeting.