Two pieces of news, one bad and one good. First, let's talk about the bad news. I believe everyone knows that Bybit has been stolen over 500000 ETH, worth approximately $1.5 billion, which should be the largest amount of money stolen so far. According to SlowMist's analysis, the main purpose of this hacker attack was to confuse the transfer signature of the cold wallet in advance, obtain the multi signature permission of the cold wallet, and thus achieve pen theft. Another detail is that the device with three multi signature permissions was implanted with a Trojan program by hackers in advance. Currently, there are details indicating that this attack was carried out by North Korean hackers. If it is true, it will definitely not be retrieved. This is a huge crisis for Bybit and its users, but fortunately Bybit's profits are considerable, and it can basically recoup this loss within a year. The peak withdrawal period has passed, and there has been no run on the bank crisis. But for Ethereum and its holders, it is bad news. Currently, Bybit has no plans to buy stolen ETH, and hackers have already sold 20000. If hackers continue to sell, it will inevitably create a huge selling pressure on Ethereum's price. In fact, the good momentum of the market yesterday was hit back to its original form by this blow, and the short-term market depends on the actions of hackers and Bybit. Let's talk about the good news again. FTX, which went bankrupt before, has received its first batch of compensation payments one after another. Public data shows that the total amount is 7-8 billion US dollars, and it is mainly distributed in the form of stablecoins. For the cryptocurrency market, this batch of stablecoins is an important capital infusion, and in fact, yesterday's strong market may have been affected by this batch of funds. Previously, the funds in FTX were mostly the existing funds in the cryptocurrency industry. Although the prices of BTC, SOL, and other currencies have risen significantly compared to before, some of these funds definitely have a strong desire to re-enter the market. The recent market trend has mainly been consolidation. In fact, the price on February 3rd was basically a temporary low point, and yesterday's strong market, if not affected by the Bybit theft incident, is likely to continue. However, the impact of any unexpected event on the trend is only short-term and temporary. I believe that if there is a low price opportunity in the future, it is still a good opportunity to buy and hold. The specific targets will continue to be mainly Ethereum, with DeFi blue chip as a supplement.