Pancakes and US stocks should continue to rise in the second half of the year

1. $BTC's total market capitalization ratio reached an all-time high, exceeding the previous 64.4% in May, and its trend is continuing to diverge from ETH and altcoins

2. The Federal Reserve's quantitative tightening (QT) scale has been reduced from $25 billion per month to $5 billion, and it is expected to soon reach zero and shift to quantitative easing (QE)

3. This Thursday, Trump again pressured Federal Reserve Chairman Powell: Trump reposted an article on Truth Social stating, "The regulators of Fannie Mae and Freddie Mac indicate that Powell should lower interest rates or resign," and stated that Federal Reserve Chairman Powell should cut interest rates by 250 basis points. The market expects the Federal Reserve to lower interest rates again in September

4. The total money supply (M2) of the four major central banks has reached a new high (see Figure 2↓)