This week, the cryptocurrency market has welcomed several key events, including large unlocks of tokens such as SUI, OP, and ENA, which may impact market liquidity. At the same time, the price of Bitcoin has fallen below $103,000, with a 24-hour decline of 1.87%, indicating a cautious market sentiment. Additionally, the anticipated tax policy in France on 'non-productive wealth' related to cryptocurrencies has further exacerbated market uncertainty. However, the on-chain total holdings value of the US spot Bitcoin ETF has surpassed $12.44 billion, reflecting a sustained interest from institutional investors in Bitcoin. Furthermore, Jupiter's completion of the destruction of 3 billion JUP has also somewhat boosted market confidence. Looking back, the SUI network suffered a hacking incident, which, although it had negative effects, did not significantly alter the market fundamentals. Overall, the current market shows a trend of large funds continuously accumulating Bitcoin, and the flow of funds has become differentiated, requiring investors to carefully assess risks. In summary, the current trend of the cryptocurrency market leans towards consolidation and volatility.