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#币圈完了
A bad environment is only an appearance. In the past, crypto-market funds would take refuge within the circle (BTC → stablecoins → DeFi), but now they’re tokenized US stocks that directly pull them out of the circle—flowing to Wall Street. This isn’t hedging; it’s switching markets.
The worse the overall environment gets, the more tokenized US stocks come to resemble a precise “soft blade” that harvests liquidity—crypto funds will never come back.
#美股代币化 $BTC