Lots of people are asking: When will the U.S. stock market crash? But honestly, I think the question itself is wrong. Because a real crash doesn’t happen suddenly on a single day. It’s when risks accumulate to a certain level, and the market starts to reprice. If the U.S. stock market sees a 20%+ correction in the next six months, I think the most noteworthy time window will be: September–November 2026. The reason is simple. Right now, the core logic supporting the U.S. stock market boils down to three things: AI will continue driving growth, The Fed will eventually shift to easing, And the U.S. economy can achieve a soft landing. As long as these three narratives hold, People will keep buying, no matter how high valuations go. But here’s the problem: In the coming months, the market will start seeing Q2 and Q3 earnings reports, The real returns from AI investments, And the actual data on employment, consumption, and economic growth. If the market realizes: AI investments far outweigh the returns, The economy begins to slow down, And the Fed can’t quickly inject liquidity, Then the logic supporting high valuations will start to unravel. The real danger isn’t the economy—it’s the valuations. Because over the past two years, much of the U.S. stock market’s rise has been driven by expectation expansion, not profit expansion. Once expectations are disproven, the speed of valuation correction is often faster than the rise. History has shown this with the dot-com bubble, the renewable energy bubble, and the future AI cycle won’t be an exception. But honestly, I’m less concerned about the U.S. stock market itself and more about liquidity. Because for $BTC, the real driver of cycles has never been price—it’s capital. If the U.S. stock market undergoes a deep correction, $BTC will likely face pressure too. But if this correction ultimately forces the Fed to inject liquidity again, Then the next opportunity for risk assets might actually emerge from the panic. The most dangerous time in the market isn’t when bad news appears. It’s when everyone starts believing good news will last forever. And the biggest opportunities often arise at the moment when faith begins to waver.