Golden Finance reports that Matrixport has released a weekly report stating that the U.S. market is entering a new round of liquidity release cycle, and structural funding support may drive Bitcoin and risk assets to continue rising, with the market expected to extend until 2026. The current funding structure, credit environment, and the early stages of past bull markets are quite similar: ample liquidity, improved credit environment, and a policy shift toward dovishness, with multiple positive factors resonating to push asset prices upward. Our model shows that the Federal Reserve's rate-cutting pace has lagged behind market expectations for 32 consecutive months. To narrow this gap, approximately 62 basis points of cuts are still needed in the coming months. Since April 2025, the cumulative increase of $74 billion in U.S. commercial and industrial loans indicates early signs of a new round of credit expansion cycle. Since June, credit spreads have continued to narrow, and the financing environment has improved. Historically, this is usually favorable for Bitcoin, and this trend has already been preliminarily reflected in Bitcoin's price performance. Our model indicates that inflation will gradually return to the Federal Reserve's target range of 2%, and volatility is converging, providing more ample policy space for rate cuts in September. Since the 'Great Beautiful Act' raised the debt ceiling by $5 trillion, the Treasury has net issued $789 billion in Treasury bonds in less than six weeks. This round of massive bond issuance coincides with Bitcoin starting a new round of upward momentum. Historically, during the fiscal expansion cycle led by Trump, Bitcoin prices often strengthened in sync with Treasury bond issuance.

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