The cryptocurrency market has recently seen increased volatility, showing a short-term downward trend. Bitcoin (BTC) has fallen below the $103,000 mark 📉, and Ethereum (ETH) has dropped below $2,400. In the past 24 hours, a total of $400 million was liquidated across the network, primarily due to $355 million in long position losses, highlighting the fragile market sentiment. Whale activity is active, with one ancient whale selling 5,000 ETH, achieving over 200 times return 💰, while another whale has purchased 7.23 million Fartcoin, indicating enthusiasm for investment in the Meme coin sector. The Ethereum ecosystem is strong, with the market capitalization of the top six Meme coins exceeding the total of other Layer 1 chains 📊, showcasing its innovative potential. On the policy front, U.S. Treasury Secretary Yellen emphasized that stablecoins can reinforce the dominance of the dollar 🌍 and may serve as a tool for deficit mitigation; Hong Kong plans to become a global cross-border asset management center within two to three years to aid the development of cryptocurrency in Asia. Regulatory authorities are cracking down on cryptocurrency fraud, with Singapore police arresting suspects involved in a $1.01 million case to maintain market order. In institutional developments, Binance Alpha is set to launch Sahara AI (SAHARA), and DMC has entered Bitget Launchpool, attracting locked funds of 66.17 million coins. Analysis shows that BTC whales may increase their holdings with the price drop, and James Wynn has closed long positions to prepare for short positions. If BTC breaks through $105,000, the liquidation intensity for short positions could reach $1.231 billion, and investors need to be wary of volatility risks 📈. Overall, while the market is under pressure, stablecoins and ecological innovation provide long-term support, and it is recommended to rationally allocate assets.