In the recent cryptocurrency market, HYPE continues to rise, breaking through $8.4 with a daily increase of up to 74.5%, demonstrating strong investment enthusiasm in the market. Meanwhile, SOL briefly fell below 240 USDT, with a decrease of 1.63%, indicating increased price volatility, requiring investors to approach with caution. In the past 24 hours, the total liquidation amount across the network reached $257 million, triggering intense clashes between bullish and bearish positions, with Bitcoin contracts' open interest reaching $60.195 billion, highlighting the high leverage trading risks in the market. Notably, a dormant address holding 13 BTC was activated after 11 years of inactivity, now valued at over $1.2 million, providing some support to market confidence. Additionally, Ethereum contracts' open interest surpassed $24 billion, with an increase of 5.91%, showing an optimistic trend. It is important to note that this week, the U.S. Bitcoin spot ETF experienced a net outflow of $134 million, indicating cautious sentiment among institutional investors. Furthermore, the SEC has filed a lawsuit against Touzi Capital and its CEO regarding a $115 million cryptocurrency mining fraud case, adding to market uncertainty. Under the influence of multiple factors, the current cryptocurrency market is generally trending towards consolidation, and investors are advised to focus on risk management. In summary, the current cryptocurrency market faces multiple challenges and opportunities.