The cryptocurrency market has recently shown multiple dynamics, with institutional participation and regulatory pressure coexisting. The overall trend is positive, but caution is needed regarding volatility risks. 📈 First, the Bitcoin sector is strong: Coinbase CEO abandons Michael Saylor's aggressive investment strategy, highlighting the importance of risk management; Metaplanet issues a $21.25 million bond to accelerate Bitcoin acquisition, further consolidating its position as the largest public holder in Asia; Fidelity's FBTC saw a net inflow of $45 million yesterday, indicating a continuous influx of institutional funds, while FETH had a net inflow of zero, suggesting relatively stable Ethereum demand. Meanwhile, U.S. Vice Premier Vance will attend the Bitcoin 2025 conference, and the meeting between BlackRock and the SEC indicates a tightening regulatory framework, which may promote market compliance. ⚠️ Meme coins and exchanges are active: the PEPE whale transferred 50 billion coins to Binance, potentially triggering price fluctuations; BNB briefly broke through 670 USDT, with a 24-hour increase of 7.41%, reflecting the strength of the Binance ecosystem; HTX launched DOOD perpetual contracts and initiated a trading party to enhance platform liquidity. Resolv distributed all first-quarter airdrops to users, and the team optimized the lock-up mechanism to boost investor confidence. Bithumb suspended Kusama deposit and withdrawal services, possibly due to compliance adjustments affecting the Asian market. Trump's official announcement of his next phase plan, along with the new stablecoin bill proposing to bring Tether under jurisdiction, has increased market uncertainty. Overall, cryptocurrency assets are ushering in a wave of institutionalization, but caution is needed against regulatory shocks and short-term volatility. Investors should focus on decentralized risk and pay attention to the strengthening of Bitcoin's dominance. 🌐