[Analysis: Crypto Market Awaits Bullish Catalyst, Bitcoin Volatility Drops to Four-Month Low] Odaily Planet Daily reports that data shows Bitcoin's annualized 30-day implied volatility has dropped below 40%, marking its lowest level since October 5. The U.S. Senate Banking Committee's postponement of discussions on the market structure bill has become one of the most closely watched topics in the crypto market this week. Some analysts warn that failure to pass the bill could trigger a crypto winter, while U.S.-listed spot ETFs saw a net inflow of $1.81 billion this week, the largest weekly inflow since October. Deribit executive Sidrah Fariq stated that current market sentiment remains cautious but constructive, suggesting that a clear bullish catalyst may be needed to drive the next phase of growth. The market is waiting for a definitive catalyst and additional positive factors to achieve a sustained breakout. (CoinDesk)