The bull run coming in 2026 could make 2021's peak look like small change. After years of consolidation and macro shifts, the pieces are lining up differently this time—institutional adoption is deeper, liquidity infrastructure is built out, and the regulatory framework is actually crystallizing. Whether it's the macro tailwinds or just the natural rhythm of market cycles, the scale of what's possible over the next few years might genuinely dwarf what we saw five years ago.