_CR7_

This isn’t a normal bull market it’s constraint-driven.
Stocks price AI earnings.
Oil prices supply risk.
Consumers price lost purchasing power.
The Fed prices inflation risk.
Bitcoin prices scarcity.
Everything is being priced by constraint.

The S&P 500 keeps going up because earnings expectations keep going up.
Stocks are up 33% over the last year while 12-month forward earnings expectations are up 23%.
Earnings are still driving this bull market.

Ethereum Foundation just sold 10,000 $ETH (~$23.8M) via OTC at $2,387 to BitMNR.
No panic this wasn’t an exchange dump.
OTC deals = zero direct sell pressure on the market.
This is simply treasury management to fund operations, grants, and ecosystem growth.
not bearish signal