On July 18, according to 4E observations, the encryption market has reappeared a strong upward trend in the past 24 hours. BTC (Bitcoin) strongly broke through the US$120,000 mark and is now at US$120,200, a 24-hour increase of 1.07%;ETH (Ethereum) simultaneously rose to US$3606, a 24-hour increase of 3.34%. Overall market sentiment continues to pick up driven by multiple positive factors. In terms of capital flow, Fidelity's spot bitcoin ETF-FBTC had a net inflow of US$7.83 million yesterday, indicating that institutional buying remains solid. SharpLink Gaming once again increased its holdings of 14,180 ETH units today, buying more than 32,000 ETH units in total. Ethereum's holding strategy continues to strengthen. At the policy level, on Thursday local time, the U.S. House of Representatives passed all three pieces of encryption legislation: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. Among them, the GENIUS bill will be formally signed into law by Trump on Friday and is expected to establish a long-term friendly regulatory framework for the U.S. crypto industry. The White House further stated that Trump will sign an executive order allowing 401(k) retirement accounts to invest in crypto assets and support a crypto "minimum tax exemption" policy, designed to encourage daily use. 4E reminds investors: When the market is hot, they should remain calm, rationally assess market risks, and not blindly chase after high prices.