Although Bitcoin has returned to $93,000, BCH has hit a new short-term high, and WLFI has stabilized after rising, Ethereum and the overall crypto market still lag behind the stock market and the current favorable environment. With another crypto-friendly Federal Reserve chair confirmed after the SEC chair, the roughly 60-day bear market in the crypto industry may be coming to an end. This downward phase was mainly triggered by the “1011 Incident”-induced liquidity contraction, combined with the four-year cycle resonance, Japan’s interest rate hike, the US government shutdown, and several other factors. Most of the negative factors have now been cleared out, and with the expected rate cuts and favorable policies resonating, I remain optimistic about the upcoming market trends.