#交易对 Political Risk: The Trump-Musk conflict temporarily disturbs the market, but a quick rebound shows resilience;

Regulatory Watershed: The vote on the US stablecoin bill is imminent, intensifying the regulatory game in New York;

Capital Dominance: Circle's IPO and institutional accumulation of BTC confirm deep involvement of traditional finance.

It is advisable to continue monitoring the Federal Reserve's interest rate decisions and the US CPI data, which may become key catalysts for the next stage of the market.