Equity markets have hit new peaks throughout 2025, powering forward despite headwinds from tariff tensions, government budget showdowns, and mounting questions about whether artificial intelligence valuations have gotten out of hand.

This creates a critical puzzle for market participants: Will this bull run have real staying power?

The backdrop matters for crypto investors too. When traditional markets face uncertainty around sustainability and valuation excess, it ripples across all risk assets. The rush to new highs—while technical strength looks impressive—sits alongside legitimate concerns about whether current price levels reflect actual economic fundamentals or just momentum chasing.

Whether the market can digest these crosswinds and continue climbing, or whether consolidation looms, remains the defining question as we move deeper into the year.