Zhou Lele, deputy chief operating officer of Victory Securities, said that the current expectations of the virtual asset market for the future are mainly affected by changes in monetary policy, while the market seems to be in a preparatory stage, with an increase of less than 3% in the past week. Prices may rise in the future but volatility may remain unchanged. As long as the interest rate cut is not imminent, the market has enough momentum to rise. It is expected that the market will maintain expectations for high interest rates until the inflation data improves. In terms of on-chain data, the user base of Ethereum is still growing. The number of active addresses and the number of new addresses have reached historical relatively high levels, which may indicate the long-term health and growth potential of the network. In terms of on-exchange funds, the significant decrease in the holdings of stablecoins as "safe-haven currencies" on exchanges may mean that market confidence has returned, and investors may re-invest their funds in riskier assets in search of higher returns, rather than staying on the sidelines. As prices rise, the inflow of over-the-counter capital (ETF inflows) and the stable holding strategy on the exchange may be resonating, which will be a key factor in the rise of bitcoin prices and the recovery of volatility.