Crypto has completed its mission: the revolution of the financial global system's infrastructure.
Whether it's stablecoins or tokenized US stocks, the baton is being passed again, and we won't see another wealth explosion like before; crypto will just become a slightly larger sector.
Starting from 2025 to 2026, BTC and altcoin markets will further decouple, as big institutions and various funds are no longer willing to back some of the old narrative altcoins.
BTC has been stacking DAT, ETF flows, and various sovereign funds since 2025, similar to MicroStrategy and the like.
The liquidity pools for altcoins are generally more niche and attract higher risk-tolerance capital.
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For big institutions, reducing their BTC holdings and reallocating funds to altcoins is highly unlikely; instead, they'll probably return to traditional assets that are performing better.
In 2026, even if the so-called AI bubble pops, most AI companies will still have super strong free cash flow and extremely healthy balance sheets. AI is part of a long-cycle industrial revolution with a very high ceiling, and long-term growth expectations underpinning valuations, etc.
With these advantages, it's very hard for large AI companies to collapse, but the likelihood of smaller companies going bust is quite high.
Of course, under these circumstances, will traditional funds choose to flow into conventional markets or into riskier ones? The answer is beyond doubt.
I want to mention this topic as it's been a year and a half since the last bull run, and the market's liquidity structure is undergoing a massive transformation.
Many are wondering why ETH can't break its previous highs and hit that $8000 mark. The answer lies in the liquidity flow; if ETH wants to push to higher levels, it will depend on whether ETFs, DAT, and other companies are willing to let funds accumulate.
Just like many people still hold a majority of altcoins, what are the odds that the old players exit and new ones step in to take over the market? #美伊和谈预期油气价格下滑