In the past 24 hours, the crypto market has been full of hotspots, with positive signals coming from both policy and capital sides.

**Regulatory Framework Becoming Gradually Clearer**

U.S. Senators are no longer silent. Several senators jointly released a long-anticipated draft of the cryptocurrency regulatory framework bill tonight, with the core goal of delineating regulatory jurisdictions and clarifying market rules. This is a strong boost for the entire industry—a clear legal framework means that crypto assets now have a defined path toward compliance, no longer remaining vague explorations in the gray area.

**Bitcoin Breaks Out with Inflation Data as Catalyst**

The U.S. December CPI data was released, showing a month-on-month increase of 0.3%, in line with expectations. This seemingly ordinary figure triggered a chain reaction in the market—investors interpreted it as a stronger signal of the Federal Reserve further cutting interest rates. Subsequently, Bitcoin surged more than 2%, successfully breaking through the key resistance level of $93,500. Interestingly, market analysts pointed out that the existence of open options positions suppressed larger volatility, indicating that market participants are increasingly aware of risk management.

**Institutional Funds Accelerate Deployment**

The actions of traditional financial institutions always attract market attention. A major asset management firm’s money market fund quietly shifted to a stablecoin reserve tool and launched an on-chain share product—an important signal of institutional-level asset allocation migrating onto the chain. At the same time, a large asset management firm’s ETF pledged approximately $300 million worth of Bitcoin and Ethereum to a well-known exchange, reflecting ongoing confidence in mainstream assets.

On the ecosystem level, there is no lagging behind. A public blockchain announced the launch of $250 million in transactions, further deepening the layout of stablecoin payment applications. Across the Atlantic, a traditional clearing bank in the UK partnered with an emerging infrastructure provider to jointly support stablecoin services. These actions indicate that stablecoins are accelerating from a marginal concept to an essential component of institutional asset allocation.

**Industry Mergers and Acquisitions Wave Imminent?**

Data giant CoinGecko can’t hold back either. This crypto data platform recently hired an investment bank to officially initiate the process of a potential sale. If the deal goes through, a $500 million valuation will once again refresh the market’s perception of the industry’s value and may trigger a new wave of mergers and acquisitions—capital flows often reveal the true direction of the market.