market analysis ACT has fluctuated within the range of 0.03 to 0.04 USDT in the past 3 days, with a rise of 24% and a significant increase in volatility. Recently, the price has approached * * 0.04 USDT * * (the highest point in the past 3 days), but the RSI is severely overbought, with a volume decline of more than * * 40% * * compared to the average. Price increases and volume decreases indicate a weakened momentum, and there is a risk of short-term correction. News Focus -The new chairman of the CFTC has taken office, and the regulation of digital assets in the United States has undergone significant adjustments. Michael Selig Sworn has officially taken office, emphasizing the promotion of the Reasonable Innovation and Market Structure Act, consolidating the position of the US cryptocurrency market, and the future regulatory direction is more inclined to improve rules and reduce the burden of technical compliance; -Asset Review in 2025: Bitcoin's performance is significantly lower than that of US stocks and gold. Due to the impact of AI productivity and safe haven demand, global funds prefer stocks and gold, and the narrative of digital assets is suppressed in the short term; -The tokenization of securities and the differentiation of ownership models have sparked market discussions. DTCC promotes tokenization innovation, but it is not equivalent to direct ownership. In the future, multiple models will coexist, and investors will have greater choice.   The overall news is mainly focused on regulation and macro, strengthening the US's leadership in innovation and digital asset policies, and the market situation is stable and differentiated. market sentiment -The cryptocurrency market sentiment is in extreme panic (fear and greed index * * 24 * *), with low mainstream risk appetite; -The volume of social media discussions has decreased, and KOLs are mostly adopting a wait-and-see and bearish stance. The continuous outflow of on chain funds indicates that institutions and large investors are cautious. ✨ Focus on follow-up attention -Whether the volume can rebound: If the trading volume continues to decline, the rebound in volume will determine whether the upward trend can continue; -Changes in the flow of funds on the chain: Continuous outflows indicate caution among large investors, and if they switch to inflows, it will improve their mood; -Macro policy trends: Pay attention to international regulatory adjustments and new changes in US policies to drive the long-term direction of the industry; -Whether institutions continue to increase or decrease their holdings: The movement of ETF and cryptocurrency sector funds affects market confidence; -Whether the public opinion structure is divergent or unified: If the long and short views tend to be unified, it may indicate a trend shift. Overall, the short-term sentiment is sluggish and the volume is weak, and the market will rely more on marginal changes in regulatory policies and institutional behavior in the future. BTC