Institutional funds continue to flow in, with listed companies significantly increasing their holdings of BTC, resulting in substantial unrealized gains; ETH shows divergence, with Bitmine experiencing unrealized losses but increasing its holdings again, and Grayscale staking dividends coming into effect. Market volatility is intense, with $250 million in liquidations over 24 hours, and short positions suffering heavy losses. SOL and LINK also see large traders moving. Vitalik emphasizes Ethereum's sovereignty resilience, with cautious optimism in macro sentiment. 🚀 Institutional bullishness and selling pressure coexist, and short-term traders should be cautious of sudden price drops. Summary: The market shows a structurally differentiated trend led by institutions, with fierce battles between bulls and bears.