Fair take This didn't happen because the cycle broke It happened because liquidity behavior changed ➤ Global capital chased safer, liquid trades first (stocks, AI, gold) ➤ Institutions stuck to BTC/ETH, not broad alts ➤ No sustained stablecoin inflows → no alt rotation
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Fair take This didn't happen because the cycle broke It happened because liquidity behavior changed ➤ Global capital chased safer, liquid trades first (stocks, AI, gold) ➤ Institutions stuck to BTC/ETH, not broad alts ➤ No sustained stablecoin inflows → no alt rotation