According to BitMart's market report on November 7th, the US government shutdown has resulted in a lack of key economic and employment data, leading to market uncertainty regarding fundamentals. The expectation of a December rate cut remains high at around 70%, while the SOFR rate surged to 4.22%, highlighting tight dollar liquidity. US stocks are increasingly vulnerable amid high valuations and disappointing earnings reports from some consumer and retail sectors. In the crypto market, both BTC and ETH spot ETFs continued to see net outflows. BTC's weekly correction continues, currently attempting to stabilize around 98,000. The daily chart shows a rebound from a key support level, but its strength remains to be seen. A break below 98,000 would signify a weakening of the bull market's last line of defense, necessitating a shift to a defensive strategy. ETH failed to hold above 3900 and has continued to decline, showing significantly weaker performance than BTC. Coupled with the overall weakness of altcoins and a decline in risk appetite, the market is currently in a high-volatility, defense-oriented phase.