Recent impressions.

First: MicroStrategy itself has already defused this risk. It now has tens of billions stored, which is already enough to cover the interest for the next two years, so the market no longer expects a MicroStrategy blow-up.
Second: It looks like this crypto industry clear/clarification bill could potentially pass. But don’t expect that once it passes, the market will surge to the sky—that’s unrealistic. It may still drop for a round, because the good news will have already been priced in. However, it is indeed positive for the outlook going forward.
Third: This round of AI seems a bit lacking in pulling power.
Fourth: Will it spike right away? Some people say it will break to new highs again by the end of this year—so this four-year cycle would be broken. I still don’t really believe that.