Analyzing the correlation between Federal Reserve rate cut expectations and Bitcoin's price movement is quite interesting. Hayes's $250,000 target may seem aggressive, but the underlying logic is worth exploring. The bottoming of US dollar liquidity and the end of quantitative tightening could indeed serve as upward catalysts. However, achieving a 170% increase in just 33 days still seems overly optimistic. I tend to believe that Bitcoin could break previous highs by the end of the year, but there is still some distance from $250,000. The key is to closely monitor Federal Reserve policy developments and institutional fund flows, as these are the core factors that will determine short-term trends.