Market: BTC about $81,500 (+0.35%), ranging and consolidating at high levels; ETH $2,350 (-0.8%), relatively weaker; SOL $89 (+3.8%), with broad rallies across altcoins. Total liquidations across the entire network over the past 24 hours reached $550 million, with short positions accounting for the majority.

Events:

- Institutional updates: Morgan Stanley opens BTC trading to 8.6 million clients; Coinbase again cuts 14% of its management team, focusing on AI to reduce costs.
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- Regulation: The U.S. CLARITY Act goes to a Senate vote on 5.11; Brazil will ban cross-border stablecoin settlements starting in October.
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- Industry: Strategy abandons its “never sell” BTC pledge, and will reduce holdings to repay debts when necessary; the ETH Pectra upgrade runs stably.
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- Macroeconomics: Progress in Middle East peace talks, oil prices plunge 7%, and sentiment for risk assets turns relatively warmer.

Analysis: Ranging and consolidating at high levels, continuous institutional inflows, and clearer regulatory expectations point to a bullish consolidation in the short term.
Recommendation: Lightly hold and sell high while buying low; support at 80,000, resistance at 82,000