Recently, the cryptocurrency market has been continuously influenced by various factors. Former US Senator Pat Toomey pointed out that the stablecoin legislation is facing numerous challenges, which may increase regulatory uncertainty. At the same time, the SEC has been active, including compensating BitClave ICO investors and delaying decisions on the EZPZ cryptocurrency index ETF, highlighting the market's vulnerability under the regulatory environment. Nevertheless, some positive signals are still emerging. For example, the digital currency wallet Phantom has surged into the top ten on the iPhone app rankings, indicating strong user demand. Furthermore, a 'perfect storm' is brewing in the Bitcoin market, which may drive its price upward. The NFT market has also seen explosive growth, with sales volume increasing by 94%, reflecting the market's ongoing enthusiasm for digital assets. MicroStrategy's market value has surpassed $100 billion, potentially overtaking Intel, indicating strong institutional confidence in Bitcoin. Some analysts suggest that future competition in AI data centers could have a profound impact on Bitcoin's mining economics. Overall, the current trend in the cryptocurrency market is positive, but attention must be paid to the dual impact of policy regulation and market dynamics. In summary, the cryptocurrency market continues to demonstrate strong vitality amidst a mix of positive signals and potential risks.