1. Price Prediction: Institutions are generally bullish, with a wide range of target prices. Mainstream institutions such as Standard Chartered Bank, Bernstein, and the Digital Chamber of Commerce have predicted that the price of BTC will reach $200,000 by the end of 2025, ranging from $180,000 to $250,000, and may even break through $800,000 due to policy promotion. VanEck expects the price to surge to $180,000 after the Halving, followed by a 30% pullback; Tim Draper and Fundstrat are long-term bullish, with a target of over $250,000, believing that BTC will disrupt the traditional payment system. Biyond Global analysts predict that it may touch $150,000 in the first half of the year, but if policy progress falls short of expectations, there may be a short-term pullback to the $82,000-$85,000 range. Driving factors: Halving effect - a reduction in supply after the Halving in April 2024. Historical patterns show that prices often reach new highs the following year. ETF fund inflows: SpotBTCETFs (such as BlackRock's iShares) are expected to attract net inflows of over $70 billion, driving a surge in demand. Adoption by institutions and enterprises: Tech giants like Apple and Google may follow TSL in including BTC on their balance sheets, while companies like MicroStrategy continue to increase their holdings.