Due to the inflation that exists in the world and is expected to increase gradually, a flight to cash is happening led by US stocks. The motivation here is clear, actually: if inflation rises and interest rates start to increase worldwide, it may take years for the balance to be found, and inflation might continue to outpace interest rates. Although on paper, a negative trend is visible in war and energy prices, in reality, since transactions are still made in cash and losses occur, the large capital moving into cash is still illogical. Even Japanese Yen traders who have returned home today to earn interest instead of carry trading will have to return to riskier assets once they realize they are caught in a trap.

After this year’s sharp rise in inflation caused by energy prices, capital may even flow back into overinflated markets one more time.
And there’s crypto too; under normal circumstances, it should benefit from this trend, but due to its internal liquidity crisis, it cannot rise. When the system approaches saturation on other fronts and is forced to generate liquidity again, the most aggressively priced asset class will likely again be crypto. One more cycle, and our time will come….