The current market is not particularly optimistic. After a quick chat with @ thecryptoskanda, it is still necessary to remind them of the risks 1. If the circle PE is too high, it will affect the stock price of Coinbase if it is truly priced Collapse market 2. The S&P is hovering at a new high, while the proportion of hedge fund positions is clearly too high. Institutional positions are not high, and retail positions are too high. However, retail positions are relatively fragile, which means that the current S&P is also fragile 3. It is a market consensus that there will be repeated speculation of defaults (technical) before the US debt ceiling is raised 4. Non farm payroll expectations are not good