Base

Currently, the crypto market lacks an independent narrative, relying on two main factors for price movements. Firstly, macroeconomics, especially US narratives, influence liquidity and thus crypto prices. Secondly, high-profile events like BTC and ETH spot ETFs gain media attention, potentially driving trading volume. Limited liquidity in this high-interest rate environment favors top assets. Market sentiment improves initially when interest rates drop, barring economic recession. Additionally, the upcoming election cycle could stimulate liquidity, as candidates' promises, whether fulfilled or not, impact market expectations. With the approval of BTC and ETH spot ETFs, crypto market cycles are increasingly aligned with traditional US financial markets, emphasizing the importance of liquidity.