中美贸易协议达成释放流动性，加密市场迎来结构性回暖

Group 1 - The core point of the news is the positive impact of the new US-China trade agreement on the global financial market, particularly benefiting the cryptocurrency market through increased liquidity and confidence [1] - The trade agreement focuses on tariff reductions and the establishment of a technology cooperation framework, which alleviates geopolitical tensions and enhances global supply chain efficiency [1] - The People's Bank of China's recent "double reduction" policy, which includes a 0.5% reserve requirement cut and a 0.1% interest rate cut, has released over 1 trillion yuan in liquidity, further supporting the upward trend in the cryptocurrency market [1] Group 2 - Bitcoin's price has stabilized between $95,000 and $104,000, with a significant improvement in market structure as institutional investors shift from speculative trading to long-term positioning [2] - Major institutions like BlackRock and Fidelity have absorbed over $30 billion in funds through spot ETFs, with on-chain data indicating that the proportion of spot holdings has risen to 67% [2] - The regulatory framework for cryptocurrencies is accelerating in various US states, with New Hampshire incorporating Bitcoin into its state reserve system and Texas easing mining site access [2] Group 3 - The trade agreement and liquidity easing are propelling the Web3 ecosystem into a critical phase of technological commercialization, with advancements in modular blockchain, privacy computing, and cross-border payment systems [3] - Modular blockchain solutions like those from Celestia and Avalanche support millions of TPS scenarios, significantly reducing on-chain transaction costs [3] - Zero-knowledge proof (ZKP) technology has captured over 45% of the market share in the Ethereum ecosystem, with ZKRollups becoming a mainstream scaling solution [3] - The cost of remittances for small and medium-sized enterprises in Southeast Asia has dropped from 6.8% to 1.2% due to real-time settlement systems based on stablecoins, with transaction volumes exceeding $1 trillion [3]