The U.S. Treasury swap in June will release a wave of liquidity, and the real altcoin season will be from June to July. Altcoins, small-cap U.S. stocks, and gold are all expected to rise; it can be called the 'U.S. Treasury Swap Bull Market'.

In June, a total of 6.5 trillion in bonds will mature, of which at least 1.42 trillion in new bonds need to be issued to replace the old bonds. Who will buy this 1.42 trillion in new bonds, and at what interest rates, is key to this liquidity.

First, don’t expect China to buy. After a series of disruptive actions by Trump, China will not support the U.S. with real money as it did in 2008, and in March, China reduced its holdings of long-term U.S. Treasuries by 27.6 billion. Now, the second-largest holder of U.S. Treasuries is the United Kingdom, while China has fallen to third.

If China doesn’t buy, don’t expect other allies to buy U.S. Treasuries either. First, no one can absorb that much, and second, if you want foreign capital to absorb such a massive amount of U.S. Treasuries, the yields will skyrocket. This is something the Trump administration cannot tolerate; the interest payments would be too high to afford.

So the only solution for the U.S. Treasury swap in June is the Federal Reserve.

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It can print trillions in a short period to buy bonds.

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It can keep bond yields controlled at low levels.

Don’t be fooled by how tough Powell talks; this is the only solution, and money must be printed. The final scenario is that the Federal Reserve will absorb the vast majority of the 1.42 trillion in U.S. Treasuries, while other institutions and some countries will take a small portion.

Key point: The entire market will see at least several hundred billion in new massive cash flow during this U.S. Treasury swap process.

Returning to the knowledge point we discussed earlier, the rise of altcoins and the Russell 2000 is only related to 'liquidity'. With the release of this wave of liquidity, altcoins will welcome a real market trend from June to July.

Perhaps altcoins will continue to oscillate downwards, but I believe they will not create lower lows; instead, they will consolidate. June to July will be the biggest stage bull market this year.