Currently, there is no systemic risk seen in the US stock market, and the same goes for the cryptocurrency market.

Although it may not be well-received, I still want to say:

The current market liquidity is insufficient to support a bull market in the entire cryptocurrency market like in 2021. At most, BTC might experience a slow bear market similar to the gold market over the past 10 years, and whether ETH can replicate this path of BTC may still depend on the thoughts of 'Wall Street'.

PS: I suggest everyone take a closer look at the data on spot ETFs; the buyers of ETFs have a high overlap with the US stock market. While they may also chase up and down, it can be observed that most investors are currently experiencing FOMO sentiment towards the market.