I think there may be three levels of thinking for macro analysis of Bitcoin in the US stock market one ️⃣ BTC is a macro liquidity sensitive asset driven by market adoption and liquidity. Since 2023, the adoption of BTC has become increasingly widespread with the adoption of ETFs, institutional and corporate reserves, and more. In my personal opinion, BTC's dividend period may have 1-2 more macro cycles. If we count one cycle from the interest rate hike to the next one, then the current macro cycle is not over yet. The impact of the four-year halving cycle is definitely still there, at least the market's understanding is still there, and the transformation will take time. But 24-25 also tells us that the present and future are more influenced by macro factors. two ️⃣ The 2-5 problem mentioned by Monkey Brother, we don't guess the vertex. We only look at trends. Often, when there is a lot of hot money and extreme greed in the market, it occurs during periods of low interest rate easing, such as the 20-21 period At that time, the market hotspots had skyrocketed, and the peak market value of memes was not very high. There were too many secondary projects with a 10 fold increase, and there were even shib projects with a market value of $50 billion. So it is necessary to go to the low interest rate easing stage, or even the QE stage, in order to have such a good market. Otherwise, there will be very little hot money in the market, and investment preferences will not be high, only concentrated on a very small number of targets, without the basic soil for FOMO's greedy market trend three ️⃣ How do we make money? Actually, we need to broaden our horizons. Even though the cryptocurrency dividend still has 10-20 years left, as someone in their 20s and 30s, in another 10-20 years, you will still be in your thirties or forties, still in your prime. Making money is important, but holding onto it and making money grow is even more important. We need to enhance our understanding of the entire financial market. Not only encryption, but also US stocks, AI, and so on If you don't have your first bucket of gold right now, most people would definitely choose to implement it in cryptocurrency because it has greater volatility and more short-term opportunities compared to the US stock market. So since we are in encryption, a better opportunity lies in a market like 20-21, and what we are currently experiencing is a cycle of interest rate cuts. It is only a matter of time before we reach the loose phase. If you have your first bucket of gold, would you choose to invest in cryptocurrency, US stocks, gold, silver, or others? Keep the money, let the money make money It depends on your pursuit and position awareness. Whether you continue in the financial market or completely exit the industry, you need to learn.