The bull market is over.

Based on

1. SP500 to new ATHs

2. Gold to new ATHs

3. M2 will keep increasing

4. New FED chairman with more rate cuts coming next year

5. Microstrategy has 0 selling risk until 2027 and even then they only need to sell 2% of their stack per year.

6. DATs keep adding more and more Bitcoin to their balance sheets

7. Tether is the most overcollateralized bank with 110% in collateralization. The collateralization requirement is literally 0% for every other bank.

8. No top indicators hit

9. Death cross that has always doubled the Bitcoin price in the 6 months following in this cycle

10. There was no euphoria

11. Altcoins extremely oversold

?

The only bearish argument they currently have is the Japanese Carry Trade. However, there is zero impacts on financial markets, they just keep going up and up and up.

You couldn't come up with a more bullish set-up tbh.