Bitcoin has recently been repeatedly oscillating in a high-price range, with trading volume shrinking compared with earlier periods and a relatively strong short-term fund wait-and-see sentiment. Ethereum and some mainstream altcoins have shown divergence in their price action; in certain sectors, volatility has increased due to changes in on-chain activity, project progress, and expectations for macro liquidity. Investors generally focus on shifts in the US dollar index, interest-rate expectations, and support and resistance levels in key price ranges. The current market pace is fast, price volatility may be amplified, and position sizing management and risk control are needed.