Trump hopes to release US dollar liquidity through 'semi-official channels' without QE.

Stablecoin policy + expansion of US Treasuries = injecting 'regular US dollars' into the crypto market;

Increased certainty of interest rate cuts = improving risk appetite for funds, BTC/ETH/altcoins may all benefit;

If ETFs, on-chain RWA connect with US Treasuries, a structural capital inflow channel will be formed.

The resonance of 'fiscal easing + monetary easing + stablecoin shadow minting' is the catalyst for the upcoming large market trend.

If these three things happen simultaneously or partially materialize, the fundamental structure for a large market trend indeed exists.

The 'resonance bull' between the crypto circle and US stocks is not a fantasy.