Many people ask:

In this round of the market, will it simultaneously break the halving cycle + the yen interest rate hike pattern?

The answer is just one sentence:

It's not about breaking, it's that macro liquidity directly overshadows all narratives.

Halving has never been a "button",

it only amplifies trends when funds are willing to take over.

And now, BTC is already a trillion-level asset,

pricing power has long been pulled into the macro.

Looking at the yen interest rate hike:

The yen is the world's largest financing currency.

Once interest rates rise, Carry Trade will be withdrawn,

U.S. stocks and BTC will be drained simultaneously.

So what you see is:

Things that should rise do not rise,

When it falls, it falls hard,

Emotions collapse in advance, but the structure is not damaged.

This round is not about "halving taking you to the sky",

but rather: enduring until liquidity returns.

The pattern has not failed,

it's just that the order has been disrupted.

The real main rise,

might come later, but it will be stronger.