#加密行情震荡 Beneath short-term fluctuations, the crypto industry has welcomed a milestone positive development, and the long-term growth logic remains intact. The U.S. SEC has formally approved Nasdaq's tokenized securities pilot proposal, allowing tokenized versions of stocks and other securities to trade on the same exchange at identical prices and with identical rights as traditional securities, with settlement handled by the Depository Trust & Clearing Corporation (DTCC). This is a critical step for blockchain asset tokenization to integrate into mainstream American financial markets, signaling official regulatory recognition for the real-world assets (RWA) sector and opening larger application spaces and institutional capital channels for the industry.

Short-term market fluctuations will not alter the major trend of blockchain technology merging with traditional finance.

How to view the subsequent market?
Focus on support in the short term, core logic in the long term
Combining macro, technical, and geopolitical dimensions, the following signals warrant close attention for subsequent market movements:
Short-term support baseline: Crypto's total market cap must hold @E5@2.37 trillion USD, and Bitcoin must remain stable above the 70,000 USD level—these are core indicators for judging whether short-term corrections are complete. If stabilization occurs, the market may gradually digest the negative news and recover toward @E5@2.5 trillion USD total market cap; if this level breaks further, additional downside risks warrant vigilance.

Core influencing factors
Subsequent U.S. inflation data, Federal Reserve policy statements, and U.S.-Iran conflict developments will continue to dominate short-term market sentiment and serve as key variables affecting price action.

Long-term trend assessment
The major direction of compliance in tokenization, institutional capital inflows, and regulatory framework refinement remains unchanged. This pullback is normal market volatility rather than a fundamental reversal for the industry.
Rationally face volatility: The crypto market itself carries attributes of high volatility and high risk; macro data, geopolitical events, and technical indicators will all create short-term price disturbances. For market participants, there's no need to panic excessively over short-term pullbacks, nor should one blindly chase rallies or sell bottoms.