#美联储重启降息步伐 In this market right now, leverage is insanely high, yet sentiment is ice-cold. Isn’t that actually a good thing?

Think about it—what is the market doing? It’s testing. Testing three things: First, whether people can pivot—stop fixating on the “Bitcoin four-year cycle” and start paying attention to global liquidity trends. Second, whether those overdone speculative positions and leverage can be safely flushed out. Third, which has more real value—gold’s physical worth, or Bitcoin’s network effect and utility.

If you look back at history, as long as the underlying logic of a bull market hasn’t changed, no amount of turbulence in the middle can alter the overall direction. The true supercycle never arrives when everyone is bullish; it always quietly forms during the most heated debates, the biggest disagreements, and when the market gets hammered over and over again.

All this noise, these wild price swings, the fierce clash of opinions? Maybe this is the real prelude to the start of the supercycle. What do you think?

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