The cryptocurrency market has recently shown multiple dynamics, with institutional participation coexisting with security challenges, and the overall trend is positive. Bitcoin ETFs saw a net inflow of 1,366 BTC, while Ethereum ETFs had a net inflow of 14,140 ETH, highlighting the enthusiasm of institutional investors. BlackRock's IBIT holdings have exceeded 600,000 BTC, valued at $56.11 billion, supporting market stability🚀. In the DeFi sector, Pendle PT was listed as collateral on Aave, with $162.2 million deposited, enhancing liquidity; Bridge partnered with Visa to launch the USDC payment card, first landing in Latin America, with Baanx following suit, indicating the accelerated popularization of stablecoin payment ecosystems🌐. However, security risks cannot be ignored: Hyperliquid's official X account is suspected to have been hacked⚠️, Binance has compensated for the TGE anomalies, and a16z emphasizes the importance of physical security. On the regulatory front, Ripple's acquisition of Circle failed, Coinbase called for restrictions on IRS monitoring, and Trump mentioned that the "big bill" might bring policy changes. Investment hotspots include Re7 Capital's $10 million SocialFi fund, Tether's acquisition of Adecoagro shares for diversification, and Soneium's collaboration with Plume on RWA, driving Web3 innovation. Overall, market liquidity has increased, but vigilance against hacker threats is necessary. In the short term, ETF inflows may push prices upward, and investors should position themselves cautiously💡. Maintain a bullish outlook and pay attention to the trend of DeFi and traditional finance integration.