Opinion: The structural bull run remains intact, and there are three favourable factors for the next rise.

According to ChainCatcher, Alex Thorn, head of research at Galaxy Digital, believes that the structural bull run of the current cryptocurrency and stock market is still intact. The three driving forces behind the pump are artificial intelligence capital expenditures, stablecoins, and tokenization.
Thorn pointed out that artificial intelligence capital expenditures are led by well-funded companies and supported by U.S. policies, creating a non-speculative bubble. He believes that corporate budgets and government positions indicate that there is still a long way to go in the future.
In terms of stablecoins, the improvement of payment channels, increased participation, and enhanced liquidity have continued to attract attention to tokens pegged to the US dollar, supporting the ecosystem.
In terms of tokenization, the transition of real-world assets and traditional market infrastructure to the chain has moved from pilot to implementation, creating new demand for block space and core assets.
Thorn is optimistic about Bitcoin's "digital gold" status and believes that major currencies like ETH and SOL, related to stablecoins and tokenization, will encounter favourable information. #加密市场观察