Recently, there has been an interesting phenomenon in the market: US stocks and cryptocurrencies are moving higher in sync. The underlying logic is actually quite simple—stable inflation and resilient employment data give investors the confidence to chase high-risk assets.

Bitcoin, as a representative of high-risk assets, has recently strengthened both technically and narratively. On one hand, it broke through a key resistance level; on the other hand, the narrative of "digital gold" as a store of value has gained new recognition. This is not a coincidence but an inevitable result of rising risk appetite.

But everything has two sides. The U.S. Supreme Court is about to make a ruling on tariffs, which hides policy uncertainty. At the same time, the international situation is also somewhat unstable—unexpected escalations in places like Venezuela and Iran could disrupt the current optimistic outlook.

However, analysis from institutions suggests that current prices have already priced in a large amount of known risks. Unless a truly shocking event occurs, market resilience remains relatively strong. This also explains why institutions generally recommend buying on dips—they see any price correction as an opportunity to get in.

The overall strategy is: the trend is bullish, and dips are opportunities. In the absence of new black swan events, the upward cycle of cryptocurrencies still has room to grow. Of course, risks always exist, and the key is how to adjust your risk tolerance at different stages.