The cryptocurrency market experienced fluctuations and rebounds this week, with both Bitcoin and Ethereum recording significant gains, indicating market expectations for changes in macroeconomic policies. Recent events such as the anonymous transfer of 300 BTC and Ripple's share sale suggest that institutional investors remain attentive. Although there is some uncertainty surrounding optimistic predictions for the U.S. stock market, the increased centralization in the Perp DEX market and active financing in the DeFi sector reflect market vitality. At the same time, the recent liquidation events serve as a reminder for investors to pay attention to risk management. The Federal Reserve may face policy divergence, intensifying market volatility. The decline in altcoin trading volume indicates that market sentiment is leaning towards value-based assets. Overall, the cryptocurrency market is currently in a wait-and-see adjustment phase, and future trends will need to closely monitor changes in macroeconomic and regulatory policies. Currently, the cryptocurrency market presents a cautiously optimistic attitude.