1 million dollars for Bitcoin? 8500 dollars for Ether? At first glance, it sounds like something from a dream, but upon closer examination, there is a not-so-ridiculous logic chain hidden behind this prediction.

The core idea can be summed up in one word: easing. The Federal Reserve has been aggressively raising interest rates for almost two years, and the market widely believes that the rate cut cycle is approaching. Once the monetary policy turns, where will the enormous liquidity flow? The answer is clear—historically, high-elasticity assets like Bitcoin and Ethereum are the biggest beneficiaries.

But this time is indeed a bit different from the previous few rounds.

Let's talk about Bitcoin first. After the spot ETF is approved, traditional financial institutions finally have a compliant entry point for funds, no longer relying on retail investors to go it alone. If those people on Wall Street really start to allocate, the scale will be completely on another level.

Looking at Ethereum again. It is no longer just a simple cryptocurrency; the entire chain is running DeFi protocols, NFT markets, and blockchain game ecosystems. These application scenarios support real network value. The technological iteration is still ongoing, and the ecosystem expansion has not stopped.

So those seemingly crazy numbers are essentially an extreme imagination of the "macro liquidity + infrastructure maturity" combination. Whether the script can go according to plan still depends on when the Federal Reserve truly shifts its stance. But at least this time, the chips on the table are indeed more than before.