The cryptocurrency market is currently experiencing a bear phase, with many participants feeling despondent. Despite this, there are indications of a bullish outlook for the future. Bitcoin is reportedly consolidating for a potential upward movement. Support for cryptocurrencies is evident from various levels of government, including the administration, which is described as pro-crypto. Recent actions include the dropping of two memecoins and calls for no capital gains tax on cryptocurrencies. Additionally, memecoins and NFTs are being classified as collectibles. There is a growing consensus among institutions, the SEC, and Congress in favor of cryptocurrency, with the U.S. also establishing a sovereign wealth fund. Analysts suggest that the current policies and support could lead to a significant shift in the market dynamics, with smart investors beginning to purchase assets amid the prevailing bearish sentiment.