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The surface of the market seems calm, but in reality, there is a hidden battle: SHIB trading volume hits a three-year low, while both bulls and bears are 'lying flat'; ETH spot seems weak, but the futures open interest quietly sets a new historical high, with smart money 'eating chips' below $3,000; XRP shorts have pushed the defense line down to $2.29, and if it breaks out with volume, there will be no resistance until $3, potentially repeating the violent market surge of 62% over 48 hours in November 2024. The market is waiting for a spark, which could come from this Thursday's U.S. quarterly refinancing announcement or rumors of Deutsche Telekom incorporating XRP Ledger nodes into its Deutsche-Telekom MMS. What needs to be done now is not to bet on the direction, but to closely monitor the signals given by the divergence of volume and price.