Bitcoin's price has declined following recent speeches by Federal Reserve officials, as market expectations for future interest rate cuts have become more cautious. This shift has dampened demand for risk assets, including cryptocurrencies. Despite this, MicroStrategy's latest earnings report, bolstered by its Bitcoin holdings, has reinforced institutional interest in the digital asset. Meanwhile, the momentum of U.S. crypto legislation and ETF applications continues to underpin long-term bullish sentiment for Bitcoin. Currently, Bitcoin is fluctuating around the $110,000 mark, with its price movements heavily influenced by macroeconomic policies and capital flows.