Data shows that Bitcoin's annualized 30-day implied volatility has fallen below 40%, reaching its lowest level since October 5th. The US Senate Banking Committee's postponement of discussion on the market structure bill has become one of the most watched focuses in the crypto market this week. Some analysts warn that failure to pass the bill could trigger a crypto winter. Meanwhile, US-listed spot ETFs saw net inflows of $1.81 billion this week, the largest weekly inflow since October. Deribit executive Sidrah Fariq stated that market sentiment remains cautious but constructive, and a clear bullish catalyst may be needed for the next phase of upward movement. They are awaiting a clear catalyst and additional positive factors for a sustained upward breakout. (CoinDesk)