Zhou Lele, deputy chief operating officer of Victory Securities, issued an analysis saying that the risk of macro and high-level negative shocks in the cryptocurrency market has passed, and the risk is more focused on expected fulfillment. For example, the US "Department of Government Efficiency" (DOGE) led by American entrepreneur Musk and Ramaswamy, after the media report, the dog coin ($DOGE) rose only 5.7%, while the dog coin rose 83% in the week when the US announced the election results. Last week, the net inflow of over-the-counter bitcoin ETF was 1.67 billion US dollars, and the holdings of exchange contracts and CME contracts remained high, but the Funding rates halved and fell, so it shows that the short-term direction of bitcoin is not one-sided, and bears are also accumulating strength.