Market sentiment fluctuating? Five major macro signals point to the ongoing bull run.

When the market falls into turbulence, voices of doubt begin to spread. However, the real trend never shifts due to short-term fluctuations. Based on the current macro environment and market structure, there are five key signals indicating that the core driving force of this bull run remains solid.

1. The liquidity gateway will open again.
The market is focused on the QT (Quantitative Tightening), which is expected to officially slow down or even stop next week. This change means that the continued withdrawal of fundamental liquidity from the market will fundamentally improve, providing the most basic fuel for the rise of risk assets, including cryptocurrencies.

2. The regulatory clouds have dissipated, ending the uncertainty pricing.
The major regulatory events that have plagued the industry have gradually materialized. When the biggest uncertainties were digested by the market and turned into "clear cards," a significant constraint on valuations was lifted. This has cleared the main obstacle for new capital to enter.

3. Interest Rate Cut Cycle: The Power of Expectations
The FOMC meeting on October 30 is a key juncture. The market's expectations for interest rate cut signals are highly consistent. Once confirmed, it will officially announce the arrival of a turning point in global liquidity, guiding funds from safe-haven assets to high-growth risk areas, with cryptocurrency being one of the most direct beneficiaries.

4. Early signals of capital rotation
The recent weak performance of gold is a noteworthy micro signal. It suggests that the market's risk appetite is quietly shifting, with funds flowing out of purely safe-haven assets and seeking markets with greater growth potential. Cryptocurrencies are undoubtedly a core target for these funds.

5. The proactive layout of smart money
There is no need to closely monitor retail sentiment; the actions of institutions hold more reference value. The significant increase in the volume of bullish options trading for crypto-related assets towards the end of the trading day clearly indicates the optimistic expectations of professional investors for the market's future and their proactive positioning.

Advice for every participant:

· Focus on the core: Amidst the volatility, the robustness of BTC and ETH far surpasses that of any niche token.
· Manage risk: The funds you invest must be within your capacity to bear losses, and strict stop-loss discipline should be enforced.
· Be patient: The bull run process has always been "advance two steps, retreat one step"; the pullbacks during the process are meant to go further.

In the end, the ones who profit in the market are always the investors who can see through short-term noise, understand core drivers, and maintain discipline.