Share my personal views on this round of meme bull market cycle:

For memes to continue sustainably in this cycle, two prerequisites must be met:

1. Macro-wise, BTC needs to continuously break new highs or consolidate, which means there must be a steady influx of liquidity into this market. The first element of financial products is liquidity; sufficient liquidity can benefit everyone equally.

Why does BTC have the potential to continually break new highs and attract liquidity?

1) On the factual level.

It has been continuously reaching new highs, and it is just around the corner from 100,000. USDT and USDC are continuously being issued, and BTC ETF is experiencing a net inflow (combined with MSTR's leverage, becoming increasingly fierce; the so-called dual purchasing of BTC by stocks and bonds is all driven by Wall Street, which is a strong force propelling BTC to new highs).

2) On the narrative level.

The liquidity required this time is far greater than before, representing a significant scale difference. Therefore, it must be a grand narrative. Currently, it seems that the BTC currency reserve system led by the United States is the only viable option, which radiates to Europe and the Middle East, allowing sovereign funds to take over. The probability of this is quite high; many influential figures around Trump support BTC or hold BTC. If you understand a bit of politics, you know how valuable this is. Moreover, most BTC holdings belong to American capital; from their perspective, they would completely push this matter forward. If, and I emphasize if, the main BTC holdings are still domestic at this moment, this narrative would completely fall apart. Why is the market so sluggish? One important reason is that there are too many domestic capital holdings.

In the past few decades, the world financial system led by the dollar has actually harvested many countries, and people dare to be angry but do not speak out. I suspect that in the future, it may transform into a "dollar + BTC" system; the United States does not like gold.