The cryptocurrency market has been very dynamic recently. MicroStrategy increased its holdings of Bitcoin to 226,500, showing its continued optimism about Bitcoin, and Wall Street brokerage Benchmark raised MicroStrategy's target price to $2,150, showing market confidence. However, the market was also affected by panic, as the news of the US government's transfer of Bitcoin and other repayment events caused investor panic, causing Bitcoin to fall below 61,500 USDT in the short term. In addition, the sudden news from Iran's national television station increased market uncertainty, and the three major U.S. stock indexes closed down collectively, further aggravating market risk sentiment. At the same time, the news that a large amount of XRP was transferred to unknown wallets and the difficulty of Bitcoin mining reached a new high have increased market volatility. Overall, the cryptocurrency market is facing great pressure, and it is necessary to pay attention to the impact of macroeconomic and policy changes on market sentiment and carefully formulate investment strategies. The current market trend tends to be cautious and wait-and-see.