The crypto market is expected to restart its upward trend in September, and Bitcoin breaking through $70,000 will ignite the alts market.

Water is a key factor in the quality of coffee, and similarly, liquidity is crucial for cryptocurrency investments. Currently, the U.S. Treasury is leading the creation and distribution of fiat currency liquidity, rather than the Federal Reserve. As the U.S. debt-to-GDP ratio exceeds 100%, the Treasury has gained dominance.

Treasury Secretary Yellen is working to absorb reverse repo (RRP) funds by issuing short-term Treasury bills, thereby increasing market liquidity. By the end of this year, at least $301 billion in liquidity will be injected into the market, potentially reaching up to $1.05 trillion. This will drive up risk assets, including cryptocurrencies.

The price of Bitcoin shows a significant negative correlation with RRP funds. From April to July, the net reduction of Treasury bonds led to an increase in RRP and Bitcoin's sideways fluctuations. As Yellen continues to issue Treasury bonds, Bitcoin is expected to restart its upward trend, with a target price of $100,000.

The altcoin market will need to wait for Bitcoin to break through $70,000 and Ethereum to break through $4,000 before it arrives. It is expected that the crypto market will break free from the sideways downward trend in September, and liquidity will peak in October.

The U.S. election will be held in early November. There is uncertainty in the election results, which may lead to market volatility. It is recommended to take profits on speculative trades before the end of the year and to transfer funds to stablecoins. Wait until the debt ceiling issue is resolved in January-February next year before re-entering the market.

In the long term, the target of one million dollars for Bitcoin remains valid. The fiscal stimulus policies of China and the United States in 2025 will drive the crypto market bull market to new highs.