This evening, the cryptocurrency market experienced a significant correction. This adjustment was mainly influenced by two factors: the U.S. Treasury Department's announcement that it will no longer purchase Bit, and the market's weakening expectations for interest rate cuts.

This fluctuation has prompted investors to think about the sustainability of the current bull market. Although the market is impacted in the short term, the long-term trend still requires further observation. Going forward, the market's focus may shift towards the movements of U.S. sovereign funds. It is worth noting that the introduction of the stablecoin legislation has already laid the groundwork for the future development direction of the market.

From a technical analysis perspective, the weekly and monthly charts of the cryptocurrency market still show a comprehensive bullish trend, with all indicators operating at high levels. This indicates that despite significant short-term fluctuations, the overall trend remains positive.

However, investors need to remember that in such a volatile market, whether they make a profit or not ultimately depends on their individual trading strategies and risk management capabilities. Every trader should develop a suitable investment plan based on their own circumstances, rather than blindly following market sentiment.

In the face of the current market situation, it is crucial to maintain rationality and vigilance. Although the long-term outlook may still be optimistic, the fluctuations and risks in the short term cannot be ignored. Investors should closely monitor changes in global economic policies, the evolution of the regulatory environment, and the movements of major institutional investors in order to timely adjust their investment strategies.