The cryptocurrency market has recently shown multiple dynamics, with overall volatility tending to stabilize, but geopolitical issues and capital flows bring uncertainty. The MOVE index has fallen to 114, indicating a reduction in short-term market risk, and investors may moderately position themselves for bullish strategies 📉. Data shows a net inflow of $33.84 million for ETH, while BTC has a net outflow of $162 million, reflecting a preference for capital towards Ethereum, possibly due to its enhanced ecosystem activity, such as the listing of AERGO on Huobi HTX, which stimulated related trading volume 🚀. Institutional demand remains strong, with U.S. spot ETPs having purchased over 529,000 BTC, far exceeding mining output, supporting Bitcoin's long-term value foundation. However, tariff issues have led to a downward adjustment of Bitcoin's year-end expectation to $85,000, reminding investors to pay attention to macro risks 💼. Regulatory scrutiny is increasing, with Binance requiring Indian users to undergo KYC again and adjusting margin rates for ten assets including ZEC to strengthen anti-money laundering compliance; Vietnam has partnered with Bybit to launch a trading pilot, marking the gradual improvement of the cryptocurrency framework 🌍. The Arbitrum ecosystem protocol Dolomite is about to have its TGE, which may trigger a new coin frenzy, but caution is needed for large transfers, such as one address transferring 7,488 ETH to FalconX, which could cause market volatility. Meme coins like LUCE, MANEKI, and AIDOGE have plummeted over 60%, indicating high risk in the speculative sector, and decentralized allocation of mainstream assets is recommended 😤. Overall, the cryptocurrency market is transitioning towards institutionalization and compliance, with a short-term positive outlook for ETH performance, but precautions against geopolitical event impacts are necessary. Investors should focus on risk management and seek stable opportunities 📈.