Now the market is back hitting all-time highs... what do you see as the short-term risks?

When the market is going vertical and the greed barometer is almost at full, I think it's more important than ever to play devil's advocate. I feel there's always a notion from cynics that somehow everyone in crypto is blind to potential risks and pitfalls. Many suggesting that someday everything will implode and go to zero. Bitcoin is coming up for its 16th birthday and Ethereum it's 10th, they've already surpassed the expectations of doomsayers many times.

The road to mainstream crypto adoption has never been simple or a straight-line. Around every corner lurks a China ban, Mt Gox/ FTX collapse, there is always something to test those diamond hands and balls of steel. The disruption of any market never been simple and hurdles should always be expected.

So what do you see as the potential short-term risks?

For me it's potentially an investigation into Tether, that Donald Trump doesn't follow through on his promises or worse there's another assassination with a different outcome, or the fact that Coinbase continues to be so central especially as a disproportionate custodian for major corps/ ETFs, or that MicroStrategy goes so hard the wheels come off somewhere along the line. Again these are just potential risks I see, not that I'm saying they will happen just that they could be a short-term risk in someway. It would be good to know what others think in the hope it helps to somehow alleviate them in the future particularly if the US does become crypto friendly I think it could be a real force to eliminate them early and make crypto stronger more quickly in the long term. Iron these things out and everyone could really benefit.

TLDR

Many Crypto cynics often think those in crypto don't see/ accept risk. I believe most do, it's just we don't think it will end all crypto forever. Playing devil's advocate, what do you see as potential short-term risks now the market is hitting all-time highs?