On March 9, 2025, the cryptocurrency market presented a complex and ever-changing situation. On one hand, the participation of institutional investors has been continuously increasing, and the scale of financial products such as Bitcoin ETFs continues to expand[^0^]; on the other hand, the uncertainty of regulatory policies still exists, such as the potential introduction of a "federal cryptocurrency license" in the United States, which would impose higher compliance requirements on the industry[^1^]. In addition, technological innovations such as the integration of AI and cryptocurrency, as well as the development of modular blockchain, have also brought new opportunities and challenges to the market[^2^]. Overall, the cryptocurrency market is moving forward amidst technological advancements and regulatory battles, and investors need to remain cautious.