Figure Technology IPO Success: Figure Technology (Blockchain Lending + Stablecoin Issuer) raised $787.5 million in the US IPO, with a stock price set at $25 per share, aiming to be traded on NASDAQ. The company focuses on accelerating home equity loan processing speed using Blockchain.

Bitcoin and most cryptocurrencies declined slightly due to inflation data and a slight drop in interest rate expectations: Influenced by the U.S. CPI (Consumer Price Index) report, investors are closely watching whether the Federal Reserve will provide hints of a rate cut. Bitcoin, Ethereum, and XRP all fell slightly.

Bitcoin is consolidating at mid-high levels: After retreating from the highs of the past few weeks, Bitcoin is hovering in the range of approximately $104,000–114,000, which is considered to be in the "post-surge consolidation phase."

Remittix is starting to gain market attention: Compared to Bitcoin and Ethereum, Remittix (RTX) is seen as an emerging payment financial (PayFi) project with high growth potential.

The stablecoin market is approaching $300B, dominated by USDT/USDC: Tether (USDT) and Circle (USDC) continue to dominate the stablecoin market, with significant growth in both market capitalization and usage.

On-chain dynamics / anomalies

Today, there has been no clear report from "Whale Alert" indicating a sudden movement of large amounts of BTC or ETH.

In terms of stablecoins: USDT / USDC dominate the stablecoin market, with usage and circulation continuing to grow steadily.

Investors are experiencing net outflows from Ethereum products, but long-term confidence remains.

DeFi / NFT activities and liquidity

I did not see reports of a large-scale transaction surge for NFT projects on that day. Overall, in DeFi and stablecoin-related protocols, market funds are active, but extreme fluctuations have not been observed.

The proportion of stablecoins used for trading and payments is increasing, which may indicate potential room for growth in the use and liquidity of stablecoin assets in DeFi protocols.

Technical Analysis (BTC / ETH / Major Coins)

Bitcoin (BTC)
Resistance level: Currently, the ~$114,000–$115,000 area is a strong resistance.

Support zone: If the range between $108,800 and ~$113,000 can be maintained, the overall decline is manageable.

Market sentiment is leaning towards a consolidation phase. Bulls want to break through resistance and need volume support.

Ethereum (ETH)
Recently, it has rebounded from a low of ~$4,200, maintaining within an ascending channel.

Resistance is expected at ~$4,500–$4,800; if successfully broken, the next target looks towards higher levels. Support, if lost, may retest ~$4,200.

Other mainstream coins ( such as XRP, SOL, ADA, etc. ) have less information, but XRP slightly declined in the same direction as BTC/ETH after the announcement of interest rate expectations and inflation data. SOL and others are relatively volatile; if BTC/ETH breaks upward, these coins may rotate and gain popularity.

Macroeconomic / Policy Impact

U.S. CPI and Interest Rate Expectations: The CPI year-on-year growth rate meets market expectations (approximately 2.9% annualized), but whether the interest rate policy will loosen remains the focus. The market anticipates a possible rate cut in the next interest rate decision, but the conviction is not yet solid.

Improvement of stablecoin regulations and regulatory environment: Laws such as the GENIUS Act concerning stablecoins have been passed/are being implemented, enhancing the compliance of stablecoin businesses and their potential for mainstream adoption.

Active trends in corporate IPOs and institutional capital: Figure's IPO reflects market confidence in stablecoin + Blockchain lending business; at the same time, smart wallet and digital asset treasury companies are also making layouts.

Preliminary Summary and Short-term Outlook
From a technical perspective, if BTC can break through the resistance at $115,000 with volume support, it may challenge higher levels; if not, consolidation or a slight pullback is possible. ETH looks promising, with short-term opportunities to test $5,000. Market sentiment has shifted from extreme optimism to caution: hot coins are being observed, and the stability of mainstream assets is receiving more attention from investors. Supportive policies/regulatory improvements for stablecoin laws and regulations are significant positive factors that help the continued inflow of institutions and mainstream finance. Risk points include inflation data exceeding expectations, hawkish interest rate policies, and macroeconomic variables (such as employment data and the trend of the US dollar) that could quickly reverse market tendencies.