#数字资产市场动态 Entering 2026, the rhythm of the crypto market has clearly changed. After the strong downward push at the beginning of the year, the current pattern is more about repeated fluctuations at high levels and rotation among different sectors. Why? Regulatory signals have become clearer—frameworks like the Clarity Act are gradually being implemented, and the SEC's attitude is softening, which has given the market plenty of room for imagination. But the most core driving forces are actually twofold: first, the narrative around privacy protection is reigniting, and second, institutional funds are continuously deploying. The collision of these two forces is the main logic behind the current market trend.