The recent rally in the US stock market has indeed been fierce. The S&P 500 is approaching 7,000 points, rising for eight consecutive months, and market sentiment is high. But as an observer who has been immersed in the crypto market for years, I believe there are some warning signals behind this.

The prosperity of the US stock market looks solid, but how high have tech stocks already risen? They are already in a consolidation phase at high levels. Would smart money stubbornly fight this battle? No. They are now looking for new directions, and this direction is very likely pointing to our territory—the digital asset market.

The real variable is the Federal Reserve. Next week's meeting minutes are likely to be a watershed for the market. Once dovish signals are released, the dollar is likely to weaken, and incremental capital will start to become active again. The logic is simple: once traditional financial markets face uncertainty, investors will seek alternative allocations, and assets with hedging properties like Bitcoin and Ethereum, although institutions may not openly admit it, are very honest with their wallets.

In terms of institutional recognition, Bitcoin and Ethereum have long become mainstream assets. Supported by fundamentals and potential liquidity shifts, if the macro environment truly improves this round, the crypto ecosystem could become the new darling of capital. External variables—whether market expectations or policy trends—are paving the way for this shift.

The timing is already very delicate. Be prepared and wait for the signals.