Jinse Finance reported that Johnny Teng, a senior researcher at LBank Labs, said in a report that the trading range is still relatively narrow as investors take a cautious stance, which is mainly affected by the continued development of XRP legal cases. SEC Chairman Gary Gensler expressed disappointment with the court's ruling on the securitization of XRP tokens, adding to the uncertainty that the SEC may appeal, further complicating the situation. The US government’s sale of confiscated Bitcoin and the expected selling pressure of short-term holders’ profits, coupled with the strong support of institutional players and the existence of a large amount of liquidity around $24,300, are leading to heightened uncertainty in the Bitcoin market, and investors need to make cautious decisions.