### Depth analysis: The core influencing factors of BTC's rise and fall
As a decentralized digital asset, BTC's price fluctuations are influenced by multiple dimensions, with both commonalities of traditional financial markets and uniqueness in the cryptocurrency field. The following is a Depth analysis of macroeconomics, policy regulation, market supply and demand, technological development, and market sentiment.
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#### **I. Macroeconomic Environment**
1. **Global Monetary Policy and Liquidity**
The monetary policies of central banks (such as raising interest rates, lowering interest rates,
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