All major crypto bull markets share a common characteristic: they occur simultaneously with a massive injection of liquidity into the global economy. These liquidity surges are not random events, but are initiated by central banks and fiscal authorities, pulling one or more of the following macro levers:

Interest Rate Cuts – Reducing borrowing costs to encourage debt-driven growth

Quantitative Easing (QE) – Central banks buy government bonds, injecting cash into the system

Forward Guidance (commitment to not raise interest rates) – Influencing market sentiment by releasing expectations of low future interest rates

Lower Reserve Requirements – Increasing the funds banks can lend

Easing Capital Regulations – Reducing restrictions on institutional risk-taking

Loan Forbearance Policies – Maintaining credit flow even in the event of defaults

Bank Bailouts or Backstops – Preventing systemic collapses and restoring confidence

Massive Fiscal Spending – The government directly injecting funds into the real economy

Release of Funds from the U.S. Treasury General Account (TGA) – Infusing cash from the Treasury's account into the market

Overseas QE and Global Liquidity – Actions by other countries' central banks affecting the crypto market through capital flows

Emergency Credit Mechanisms – Temporary loan tools established during crises

These actions not only drive up traditional asset prices but also trigger what Jesse refers to as "speculative frenzy." Cryptocurrencies, being the riskiest yet most potentially rewarding assets in the system, often benefit the most.