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ChainCatcher News, according to Golden Ten Data, Lloyd Chan, Senior Currency Analyst at Mitsubishi UFJ Singapore Branch, stated that an agreement to end the government shutdown could trigger a significant market reaction, mainly by reducing data uncertainty and boosting investor sentiment. The recent rebound in the US stock market appears to be driven by both a technical recovery and market optimism that the government shutdown is about to end.

According to ChainCatcher, as observed by 4E, as of 11 a.m. this morning, the crypto market generally weakened, with the AI sector leading the decline with a 24-hour drop of 6.33%, and Bitcoin falling below $104,000. Market analysis suggests that this round of correction is mainly due to macro uncertainties and a slowdown in ETF capital inflows, resulting in a short-term cooling of risk appetite. The U.S. government shutdown may end this week, as both parties in the Senate have reached an agreement. Once the shutdown is lifted, the SEC and CFTC will accelerate the resumption of regulatory and product approval processes. The SEC plans to prioritize the release of "exemptive relief" to support tokenization and crypto businesses, and will continue to investigate digital asset treasury companies; the CFTC intends to promote "spot crypto trading and tokenized collateral" within the year, and is negotiating with compliant exchanges to launch leveraged spot products as early as next month. Industry insiders expect that related bills will be submitted to the President for signing after coordination between the Banking Committee and the Agriculture Committee. Meanwhile, a certain exchange has re-entered the crypto space, launching SoFi Crypto, which supports trading of Bitcoin, Ethereum, Solana, and other assets, and integrates its banking business. This return marks the exchange's relaunch of its crypto segment after suspending crypto services in 2023, indicating renewed interest from traditional financial institutions in the compliant market. In addition, the scale of tokenized assets on Ethereum has surpassed $200 billion, accounting for about two-thirds of the total tokenized assets on the network. Since the beginning of 2024, this sector has grown nearly 20-fold, mainly driven by institutions such as BlackRock and Fidelity promoting the on-chain migration of traditional assets. 4E Commentary: The combination of macro volatility and regulatory restart has put short-term pressure on the crypto market, but the re-entry of certain exchanges and traditional asset management institutions may open a new phase for the integration of on-chain assets and mainstream finance.