#美国政府停摆风险 The U.S. government shutdown has occurred again. What does this mean for the crypto market? From an on-chain data perspective, no significant outflow of funds has been observed so far. However, considering the market uncertainty that a government shutdown may trigger, there may be an increase in stablecoin transfers and exchange deposits in the short term. It is recommended to closely follow the fund flows of large wallets and changes in DEX volume to capture potential hedging demand. At the same time, be wary of regulatory policy delays caused by the government shutdown, which may bring unexpected favourable information to certain projects. Overall, maintaining a calm observation and managing risk effectively is key.