This surge is the result of multiple factors resonating together. The Treasury doubling its efforts to repurchase long-term government bonds will inject liquidity into the market, which is a direct stimulus factor. I’ve previously outlined other driving factors here: https://(x.com)/0xhiger/status/2086032203071521081 Later, in the early hours of August 20 (Beijing time), Trump made several pro-crypto remarks during a meeting with executives from crypto and fintech companies. Here are some key points: 1. The U.S. government has discussed accumulating a "substantial amount" of Bitcoin and other cryptocurrencies; 2. Urged Congress to quickly pass a "fair version" of the *Clarity Act* (Digital Asset Market Clarity Act); 3. The SEC Chair is working to bring Hyperliquid into the U.S. market in a compliant manner. In addition, as a follow-up to the *Clarity Act*, the SEC proposed a *Crypto Regulatory Framework*, which mainly includes exemptions for crypto companies' fundraising and a token safe harbor. With this, everyone has become even more confident in the future of the crypto market, and both Bitcoin and the altcoin market have started to rally. That’s how financial markets work—sometimes you need some moves to let certain AI-driven funds see that there’s still a massive market currently sitting in a value trough.