Talk about the current macroeconomic benefits

Although everyone has long known that the Federal Reserve intends to cut interest rates, recent market expectations for this have cooled somewhat, but a rate cut within the year is still highly likely. Once the rate cut is implemented, there will be more money in the market, and the overall liquidity environment will become more relaxed.

In the past two years, the cryptocurrency industry has not seen particularly impressive new products at the application level, but it has not been stagnant either. Significant progress has been made in underlying technology, such as major improvements in scalability, and the on-chain experience has become smoother and more practical. Stablecoins, which are digital versions of the US dollar, have now been "officially incorporated" as a new channel for the dollar to expand its influence globally. These stablecoins not only broaden the entry point for users into the crypto world but also bring more real-use scenarios. With the launch of ETFs, the emergence of more user-friendly chains, and banks and brokerages beginning to accept crypto assets, the cryptocurrency industry is gradually integrating into the mainstream financial system, and the potential user base is expanding, likely leading to a significant increase in the coming years.

Although regulations have not yet fully formed, the direction is becoming progressively clearer and more open, especially with the loosening of definitions related to securities, and there may be further opening up to the inclusion of "real-world assets" (RWA) in the future. RWA is just starting to gain momentum; its role is to bring traditional financial capital into the crypto space, driving more users.

For decentralized finance (DeFi), RWA acts like a new fuel that can provide more stable income methods. The current market sentiment is also not as fragile as before, with institutional funds providing support, and even if there is a correction, it will not fall into a prolonged slump. Multiple positive factors are overlapping and pushing each other, providing an opportunity for the crypto market to brew an explosion.

So moving forward, the crypto market is more likely to experience a "slow bull market with fluctuations upwards." If there is too sharp a rise in a short period, it could indeed trigger a significant adjustment, but the current momentum and foundation are much more solid than in previous years.