This year, the global financial markets are likely to enter a bear market.

Bitcoin is the leading indicator of global risk assets; the crypto market peaks first, followed by the US stock market, and finally the A-shares.
If this logic and order are mistaken, everything will be wrong.
Currently, Bitcoin is crashing, and the logic is simple: 2014, 2018, 2022, 2026—these are four-year cycles, and the bear market has arrived. There's nothing surprising about it.
Additionally, in 2026, the A-shares and US stock markets are very likely to also be in a bear market. Bitcoin's decline is just more sensitive to liquidity, so it drops first.
Looking back at the last bear market, in 2022, cryptocurrencies, US stocks, and A-shares all declined simultaneously.
In 2023, 2024, and 2025, cryptocurrencies, US stocks, and A-shares all rose together.
Many people might wonder, isn't the A-shares market only entering a bull phase at the end of September 2024?
Actually, no. The new quality productivity stocks in A-shares, such as the Yi Zhongtian AI sector, Sailisi, and others, had already entered a bull market in early 2023, synchronized with the US stock market.
Therefore, I believe that in this round, global assets will all enter a bear market by 2026, and Bitcoin's crash is just a precursor.
Before June, A-shares are the last chance to escape; after June, violent liquidation will begin.