The US stock market welcomes a significant "Triple Witching Day", Bitcoin may continue to fluctuate and consolidate.

The Federal Reserve maintained interest rates this week, but the overall stance is hawkish. Officials have differing views on future policy, with some expecting at least two rate cuts this year, while others believe rates will remain unchanged. Current inflation is close to the 2% target but has not yet fully reached it, and an early rate cut could lead to a rebound in inflation.

This Friday, approximately $6.5 trillion worth of US stock options and derivatives contracts will expire, and this "Triple Witching Day" event may sow the seeds of volatility for next week's market. Analysts believe that this expiration date could become one of the largest expiration events in history, and investors should be alert to potential market volatility risks.

The virtual asset industry has entered the second growth curve stage, with the focus shifting from "digital native" represented by Bitcoin to "digital twin" represented by stablecoins and asset tokenization. Stablecoins are considered the optimal form of currency at present and are expected to play an important role in the future global financial system. Compliant exchanges possess fundamental capabilities in regulatory compliance, asset custody, and clearing and settlement, and are expected to become the hub for global virtual assets.

The cryptocurrency market has shown a lackluster trend recently, with Bitcoin's price remaining essentially unchanged over the past three days. The escalating geopolitical tensions have heightened risk-averse sentiment, leading to increased demand for traditional safe-haven assets, while the demand for risk assets like Bitcoin has declined. On the technical front, Bitcoin's price is constrained by multiple moving average resistances around the $106,000 level, and the market's trading volume is sluggish, indicating a strong wait-and-see sentiment. In the short term, if it breaks through the moving average resistance, Bitcoin may have a chance to challenge the $112,000 high, but the current momentum is insufficient, and it may continue to consolidate.

Multiple analysis institutions indicate that the market is characterized by low volatility, a narrowing price range, and weakened on-chain activity, with retail participation declining and institutional investors becoming the dominant force. If the demand continues to deteriorate, Bitcoin may fall back to the support level of $92,000, or even drop to $81,000.

Solana is currently fluctuating within the key support range of $140-145, regarded as a potential trend reversal point. Analysts suggest positioning long orders in the range of $128-140, with target prices of $204.31, $229.01, and $258.45 respectively. If it breaks below the $140 support, it may trigger an accelerated decline, targeting the $102-103 region. Conversely, if it breaks above $160-170 with increased trading volume, it could reverse the current bearish pattern, with upward targets potentially pointing to the $180-$220 range.

In the altcoin market, MEME coin LABUBU has dropped 23% in the past 24 hours, marking a three-day decline, with its market cap falling from a recent high of $60 million to $27 million. Within the Solana ecosystem, some new projects like Gorbagana, $YOURSEL, and $shiyo have seen their market caps reach or exceed $2 million at one point. In contrast, the popularity of Meme coins on Avalanche has cooled.

The current price of Bitcoin is $104,658, with a daily spot trading volume of $17.204 billion. The price of Ethereum is $2,520.03, with a daily spot trading volume of $9.922 billion. The market fear and greed index is 48, indicating a neutral level. The market shares of Bitcoin and Ethereum are 64.1% and 9.4%, respectively. In the past 24 hours, a total of 55,924 people were liquidated globally, with a total liquidation amount of $89.34 million.

Bitcoin ETF has seen a net inflow for 8 consecutive days, with a total inflow of $390 million. Ethereum ETF has seen a net inflow for 3 consecutive days, with a total inflow of $1,909,980.

The top 500 tokens with the largest market cap increase today include Threshold (T), Joe coin (JOE), StormX (STMX), Sei (SEI), and Mythos (MYTH).

Recent hot news includes: Bitcoin on-chain transaction volume hitting an 18-month low; Semler Scientific appointing a Bitcoin Strategy Director; 49% of surveyed institutions globally have used stablecoins for payments; publicly listed companies' Bitcoin treasury reserves exceeding 768,500 coins; Fidelity report indicating that Bitcoin's "ancient supply" growth rate has surpassed daily new production; several exchanges listing or delisting certain trading pairs, etc.