Total Global Liquidity is increasing (subtle) but Momentum is declining - Markets (Crypto lags by 8-12 weeks) what ever happens there, so likely a peak end of year (blow off top) there's arguments the markets will continue in to a peak in August 2026 but i'd hazard thats after a complete reset...
Trump admin have caused too much chaos in the international plumbing... it takes time to unravel and refresh.
I'd hazard the business cycle is doing a lot better than it appears (for some) but not all (50% good/bad economy).
Also Trump admin keeps referring to 20 Trillion injected into the US, but these things will take 3 yrs (i.e after him) to have material impact (aside from the build-outs will generate income for working/middle-class) but mainstreet getting wealthy doesn't help wallstreet (speculation) as thats done on monetary debasement, whereas Trump is concentrating on Fiscal debasement (i.e inflationary - but supportive of his base) but suspect that this restrictive monetary debasement process will have outsized impact on the market(s) as they are starved of liquidity in a 10 trillion $ debt roll year (hence reset)
