I firmly believe that the current bull market is still ongoing, mainly based on the following reasons:

- Shift in monetary policy, significantly enhanced liquidity: The Federal Reserve is currently in a rate-cutting cycle, and market expectations have undergone a significant transformation. Initially, only one rate cut was expected in 2025, but it now seems that the possibility of four rate cuts is very high. This shift will greatly enhance market liquidity and inject more vitality into the market. More funds will flow into the market seeking investment opportunities, driving asset prices up and providing ample financial support for the bull market.

- Shift in stimulus mode, monetary stimulus driving fund growth: The focus of U.S. policy has shifted from fiscal stimulus to monetary stimulus, which is a key change. Previously, fiscal stimulus was mainly through government cash disbursements, while monetary stimulus involves 'flooding' the market with more money supply. Monetary stimulus will directly increase the total amount of money in the market, making it easier for companies and investors to access funds, which can then be invested in the market, driving prosperity and providing ongoing momentum for the bull market.

- Improvement of industry infrastructure, deepening integration with traditional finance: The infrastructure of the cryptocurrency industry is continuously improving, and the connection with traditional finance is becoming increasingly tight. For example, the stability of trading platforms and the security of custody services have lowered the barriers for investors to enter the cryptocurrency market. Collaborating with traditional financial institutions to launch new financial products has provided investors with more investment choices and diversified options, attracting more funds and promoting the continued development of the bull market.

- Changes in trade policy, cryptocurrency welcomes new opportunities: Trump's tariff policy has imposed numerous restrictions on cross-border transactions, and in this context, cryptocurrencies, due to their decentralization and convenient transaction characteristics, are expected to become a new trading method that bypasses these restrictions. More and more companies and individuals may choose to use cryptocurrencies for cross-border transactions, which will increase the market demand for cryptocurrencies, drive up their prices, and promote the continuation of the bull market.