Good morning, the market is pulling back first.

BTC 5,309 (-2.5%), ETH ,062 (-3.0%), BNB 50 (-0.9%), SOL 4.4 (-2.8%). The total market capitalization has returned to around $2.6 trillion, with a 24-hour trading volume of approximately $85.5 billion. BTC dominance is 58.0%, panic and greed index at 28, sentiment shifting back toward fear.
Today, I see three points in the news.
First, CoinDesk data shows that after Fed Chair Kevin Warsh took office, risk assets continued to come under pressure, as the market digests macro expectations.
Second, SEC Commissioner Hester Peirce responded to delays in crypto regulations and the controversy over “synthetic tokens,” with regulatory discussions still ongoing, making short-term movements more like emotional disturbances.
Third, the trend remains hot, with coins like NEAR and HYPE still ranking high on CoinGecko’s trending searches, indicating that funds in the market haven't disappeared but are continuing to seek strong narratives during the pullback.
My feeling is: it’s not that there are no opportunities, but don’t rush to heavily buy in. First, see if BTC can hold steady at 75k; if it does, then consider rotation; if not, altcoins are likely to continue bleeding. Today, controlling the pace is more important than chasing divine picks.