CEX: The encryption bull run is expected to continue until the fourth quarter, with support from funds and policies.

[CEX: The Crypto Assets bull run is expected to continue into the fourth quarter, with funds and policies supporting the market] CEX analysts stated that the Crypto Assets bull run still has room to extend into the fourth quarter. The report pointed out that strong market Liquidity, a favorable macro environment, and positive regulatory signals will continue to support the market. Despite Bitcoin's historical decline in September, this seasonal pattern has not been evident in 2023 and 2024, with limited statistical significance. CEX emphasizes that a more important factor is the holdings of Digital Asset Treasuries (DATs), which currently publicly disclose holdings of over 1 million BTC (approximately $110 billion), 4.9 million ETH ($21.3 billion), and 8.9 million SOL ($1.8 billion), providing solid support for prices. CEX also pointed out that the return of retail investors may signal the arrival of "Alt Season." In the context of a stable macro environment and continuous inflow of funds, large Crypto Assets will continue to benefit, while small tokens may face consolidation pressure.