Now the overall macro market is following the storyline of 1998–2000.

After 1998, the Fed chose to cut interest rates against the backdrop of global financial risks spreading, including the aftermath of the Asian financial crisis, Russia's debt default, and LTCM's near collapse.
The market then interpreted this rate cut as the Fed stepping in to support whenever there is systemic deleveraging risk in financial markets.
Thus, rate cut expectations strengthened risk appetite, and tech stocks subsequently entered a frenzied acceleration phase in 1999.
Now it should be in the latter half of the accelerator, past the absolute safety zone for investment, though it's hard to say whether this round will see a bubble burst causing a global market crash.
In theory, most bearish factors are gradually being digested. For now, I simply take a bullish view on BTC price over the next few months, and before the liquidity pullback after the AI theme cools down, I'm not in a hurry to see BTC break below the $60k range.