The core constraint in the current crypto asset market is that liquidity has contracted significantly. Capital is highly fragmented: some small- and mid-cap tokens have seen sustained weakness in trading activity, price volatility ranges have narrowed, and as a result, tradable opportunities have clearly decreased.

By contrast, the US stock market continues to establish a clear structural main theme in thematic sectors such as artificial intelligence, semiconductors, and quantum computing. With higher levels of capital participation and a marked increase in market activity, trading opportunities are relatively more abundant.

To a large extent, the direction of capital flows determines how market opportunities are distributed. In recent times, capital has gradually been concentrating toward the US stock market, reflecting a shift in investors’ preference toward highly liquid assets and structural growth opportunities.