Why can BTC continue to rise through cycles? It is because speculators take over from the early veterans, companies take over from speculators, ETFs take over from companies, and later sovereign states will take over from everyone...
Don't be foolish enough to believe in the nonsense that "the US stock market will collapse as soon as the Fed cuts interest rates." This is purely confusing cause and effect and confusing right and wrong. It is obvious that the US stock market is forcing it to die, and the Fed has no choice but to cut interest rates and release money to save the market.