Future linkage closed loop outlook

From entry-level volume tools to the most advanced AI monsters.

After this heavy regulatory hammer, is it a precursor to an impending decline, or yet another starting point of "bad news being fully priced in"? Let's trace the trajectory after the storm through five key policy inflection points.

The average cost basis for U.S. spot Bitcoin ETFs is approaching $83,000.

Short-term bullish on risk assets, but long-term structural risks stemming from sovereign debt, demographic crises, and geopolitical realignment must be guarded against.

Overall, future identity infrastructure is more likely to develop in a hybrid manner: front-end KYC serves as a short-term, executable compliance layer; "off-chain verification, on-chain credentials" represents a mid-term evolutionary direction, with the relevant technological systems maturing gradually at the underlying layer; and DID may find its true functional demand within the AI Agent ecosystem.