最新报道:Bitcoin's late-2025 price trajectory is shaped by U.S. institutional demand and Asian retail speculation, measured by the Coinbase Premium Index (CPI) and Kimchi Premium Index (KPI). In Q3 2025, KPI returned with a 0.84% premium, while CPI turned positive due to $14.6B in Q2 ETF inflows. Synchronized CPI-KPI alignment above +1.5% drove Bitcoin above $113,000, but divergences triggered volatility. Key entry zones include $110K–$112K with CPI-KPI alignment, and $115K–$118K if KPI surges. Risks include Trump-era inflation and speculative positions. Monitoring CPI as institutional support and KPI for retail sentiment is crucial for timing entries.