Under the backdrop of global monetary easing expectations and precious metals appreciation, Bitcoin does not need to wait for gold to reach its peak before initiating an upward trend. In fact, the ongoing depreciation of fiat currencies itself provides a strong foundation for BTC's rise — this has become a consensus among institutional investors. From a technical perspective, shifts in market sentiment often precede price confirmation. In the short term, changes in risk appetite among market participants will first be reflected in altcoins, which is an important reference for observing subsequent major market movements. In short, the improvement in the macro liquidity environment combined with a rush to safe-haven assets is paving the way for a new wave of upward cycles in digital assets.