Key Points Interpretation: Uncertainty in Politics and Monetary Policy (Trump's proposal to replace Federal Reserve officials, judicial investigations), weakness in U.S. stocks and market adjustments in interest rate cut expectations, rising short-term interest rate risks, putting pressure on risk assets 📉. The supply of stablecoins is tightening (USDC burned 50 million) but institutional demand remains (LM Funding raised 23 million to expand Bitcoin reserves) 🔒. On-chain whales are withdrawing large amounts of ETH from Binance and transferring multiple tokens, indicating increased short-term liquidity and volatility 🐳. Exchanges and product promotions (Bitget/Binance competition) temporarily boost trading volume but add speculation 📈. Technical and risk warnings: BTC briefly drops below $113,000, ETH faces a key level at $4,353; if the above resistance is broken, large-scale short liquidations on CEX could trigger a rapid surge (potential short-covering risk) 🧨. Overall, funding divergence and policy uncertainty dominate short-term fluctuations, and liquidity events and leverage liquidation risks should still be monitored 📊. One-sentence summary: The short-term outlook is inclined towards downward fluctuations and increased volatility, but if key resistance levels are broken, it could trigger a rapid rebound from large-scale short liquidations.