At the beginning of next year, the pie will be halved, interest rate cuts are also expected, the Bitcoin spot ETF will most likely be passed, and the encryption bill in the United States will also be implemented. But these cannot be realized and implemented in the short term.

The biggest downside to the market now is the liquidity squeeze caused by high interest rates. Without large amounts of new capital entering the market, it will be difficult to rise.

The rise of the market must be driven by the entry of funds. It is impossible to have a bull market in a market where the stock or even the stock is decreasing. However, before the bull market, there were so many bargain-hunting funds, especially the major long-short institutions in the derivatives market that allocated a large amount of leveraged funds. The long-short parties formed a delicate balance, but this "sideways" balance would eventually be broken. There will definitely be bloodshed. It’s nothing more than when it was broken #BTC