#加密市场回调

The cryptocurrency market is experiencing a deep correction recently, with Bitcoin falling below the $60,000 mark, and most mainstream coins seeing declines of over 20%. This adjustment is influenced by multiple factors: the strengthening of the Federal Reserve's interest rate hike expectations is putting pressure on risk assets, the U.S. SEC's delay in approving the Ethereum ETF has raised regulatory concerns, and some funds are withdrawing from high-volatility assets to seek safety. On-chain data shows that whale addresses continue to reduce their holdings, with a 15% surge in exchange inflows, leading to significant short-term selling pressure. However, the industry's fundamentals remain unchanged, with the total locked value in the Layer2 ecosystem surpassing $5 billion, and institutions increasing their holdings in cross-chain protocols like LayerZero. Historical cycle patterns indicate that a 20%-30% pullback is a healthy adjustment, and the halving cycle along with the long-term logic of institutional entry continues to support value recovery.