Every stock market and index in the world are at All Time Highs Bullish case for BTC & Crypto > Gold, stocks across the world, and even riskier small caps in the US are signaling a liquidity positive environment > Fed is going to end QT > Increase in T-bill issuance by Treasury after QT ends --> reserves grow at the Fed --> liquidity positive > Fiscal dominance pre midterms > Rate cuts coming > US - China trade deal > Trump might offer tariff revenue as stimmy > Inflation expectations have recently dropped (1y USD inflation swap trending down since summer top) > GDP growth remains resilient > Largest leverage wipe out in the history of crypto Some bearish takes also sound compelling, that’s why it’s a hard game. But I have to take my chances here as a bull. With that said, asset selection is of outmost importance, as well as execution & risk management. Short term moves in crypto can be brutal and even destructive. Regardless of macro liquidity conditions, it is going to be hard game as it has been for the last 2 years. Most alts are cooked and are simply short-term trading instruments. Only a few exceptions.