Recently, the cryptocurrency market has seen several significant developments, with investor sentiment soaring, particularly after some smart money backed SOL early on, leading to a profit increase of over 4000 times, indicating growing confidence in emerging tokens like Mustard. At the same time, positive statements from U.S. lawmakers regarding SEC policy reform may create more regulatory benefits for the cryptocurrency industry, while the SEC's plans for extensive enforcement actions and substantial financial assistance in the 2024 fiscal year demonstrate the authorities' focus on the sector. Data also shows that cryptocurrency-related PACs have invested over $245 million in the 2024 U.S. elections, suggesting that the industry's influence is gradually increasing. In addition, the XRP transfer incident and a certain whale's continued accumulation indicate that market trading activity remains active. Despite the presence of unrealized losses in the market, such as ai16z's $290,000 unrealized loss, the overall sentiment is unlikely to be affected. In terms of regulation, Coin Center holds a cautiously optimistic view on future regulatory prospects, reflecting expectations for the industry's future development. Combined with VanEck's bullish forecast for Bitcoin, we can see that the market is in the early stages of a bull market. Overall, the cryptocurrency market is expected to continue to develop upward, driven by both regulatory and investment enthusiasm.