Many people have a kind of intuitive discomfort.
Salaries haven't increased, but prices keep rising, and the pressure of life is getting greater;
But the financial market has begun to see a return of funds, and asset prices are constantly being pushed higher.
This is not the market going crazy, but the system operating as it originally does.
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The market has never cared about 'how well you are doing'.
The financial market is not meant to reflect life; it only reflects one thing:
Where does the money go to avoid being eaten up?
When the policy environment shifts—
Whether it's lowering interest rates, halting tightening, or releasing liquidity under various names—
The signals received by the market are actually very simple:
> Holding cash is becoming a risk.
At this time, the rise in asset prices is not due to economic improvement,
but because the value of cash is slowly being diluted.
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Asset prices often rise when it feels the worst.
History repeats the same scene again:
Most people lack confidence in the future.
The real economy is still under pressure.
But funds have begun to position themselves in risk assets in advance.
The reason is very realistic—
The market does not wait for "everything to be fine" before it rises,
but rises only when there are no better choices available.
When bonds cannot provide substantial returns,
When cash holdings are slowly eroded by inflation,
Funds will naturally flow towards assets with limited supply, high liquidity, and capacity to accommodate scale.
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Why in such an environment is it easiest to drive up risk assets?
Because at this stage, the market is not comparing "who is the best",
But rather "who is not that bad".
Stocks are imperfect, but they provide liquidity.
Gold does not yield interest, but can hedge against currency devaluation.
Cryptocurrency assets are highly volatile, but the supply narrative is clear and reacts quickly.
In a system where currency is continuously diluted,
The rise in prices itself is a form of defensive behavior.
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Cryptocurrency market, why is it always seen in the later stages?
Many people will notice a phenomenon:
Gold moves first.
Traditional assets stabilize.
The cryptocurrency market only erupts at the end.
This is not a coincidence, but the order of risk tolerance.
When the market confirms that "money is really getting thinner",
Funds begin to look for more aggressive but purer hedging targets.
Cryptocurrency assets stand at the end of this chain.
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A rise in asset prices does not mean the world is getting better.
This is one point that many people find hardest to accept.
Asset prices rise not because everyone is happier,
But because the system needs a place to absorb excess currency.
So you will see a very harsh reality:
> Asset prices rise,
Perhaps it is precisely because most people are becoming more difficult.
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The market just moves along the path of least resistance.
If I had to describe all of this in one sentence, it would be:
> As currency continues to be diluted, funds will only flow towards the path of least resistance, where value can be preserved.
The market has no morals and no emotions,
It is just looking for an outlet.
And asset prices are merely a representation of that outlet.
