According to a report from CoinWorld, Felix Zulauf, head of the Swiss consultancy Zulauf, believes that the market will continue to rise, despite negative technical factors and warnings from market breadth deterioration. Zulauf points out that positive liquidity trends may drive up prices, but exchange rate fluctuations will negatively impact the stock market and the U.S. economy. He believes that the rise of the stock market and cryptocurrencies has strengthened consumers' balance sheets. The tight U.S. labor market is pushing up wages, and strong asset prices are allowing more people to retire early. However, a 20% drop in the stock market would lead to reduced spending among the wealthy, impacting the economy.