5.20 Various financial assets enter a bear market cycle 1. The bull market cycle started in 2023. BTC, gold, silver, and the stock market all skyrocketed once. Recently, the AI industry chain surged, pushing the bull market to its peak. 2. BTC is the capital weather vane, the first to peak and enter the bear market cycle. Gold and silver peaked afterward, and after the AI industry chain's explosive rally, there's no more room to rise. 3. Inflation rebounds, employment remains sluggish, and the probability of a rate hike in December is 40%. The second half of the year will gradually enter a bear market cycle.