The market maintained a range-bound fluctuation yesterday, with the pie Ethereum slightly rising in the evening following the MiGu, but it failed to break through the previous high points, and the market remains in a wait-and-see state. Funds are leaning towards caution, and no trend-driven行情 has emerged. The market displays features of rotation among popular varieties, with some strong varieties experiencing significant upward movement but also notable pullback risks. The overall rhythm is dominated by macro risk sentiment and the linkage with MiGu technology stocks, focusing on high-level fluctuations and consolidations in the short term. Operations need to strictly control volatility risks and wait for key position breakout signals. We will continue to track institutional capital flows and changes in on-chain data, updating layout strategies and target dynamics in real-time.