Recently, the cryptocurrency market has been dynamic, and the prospects of crypto are gaining attention from all sectors. The statements of Coinbase's CEO emphasize the important role of cryptocurrency in the future financial landscape, possibly surpassing the status of stocks and the internet. Additionally, Federal Reserve Governor Waller pointed out that the regulatory issues surrounding stablecoins will become a focus, bringing transparency and trust to the market, but could also stifle innovation. In terms of market activity, BlackRock's Bitcoin spot ETF saw its first-hour trading volume exceed $1.5 billion, reflecting strong investor interest in Bitcoin. Meanwhile, the cryptocurrency sector performed poorly in the U.S. stock market, particularly Riot Blockchain, which fell over 6%, indicating a shift in market risk appetite. The implied volatility in the options market has slightly increased, reflecting heightened market uncertainty. On the other hand, Tether has issued 5 billion USDT in the short term, providing support for market liquidity, although the market is still affected by the overall economic environment. Overall, the market is in a phase of adjustment, and investors should be cautious about short-term fluctuations; long-term positioning may yield better returns. Currently, the cryptocurrency market trends are often accompanied by volatility, and it is advisable to closely monitor policy and market sentiment trends.