When the U.S. stock market gets good news, it actually goes up. And even if it doesn’t, at least it won’t drop much. When altcoins get good news, they call it 'the project is making progress,' but really, it’s just a call for you to take the bag. It barely moves up, and if it doesn’t drop, that’s already a win. The U.S. stock market is actually quite volatile too, but for it to drop 50%, it takes a long time (for example, SPCX dropping from 220 to 110 took over a month). It’s more like drop a bit, rise a bit, drop again. Altcoins, on the other hand, not only drop faster but also more smoothly (could take just 3-5 days to crash and never recover). U.S. stock market contracts are still more fun. As long as it’s a core heavy stock, you don’t have to worry about it endlessly crashing. Of course, my personal view has always been: especially for top market cap AI and tech stocks, try to avoid shorting them. So, does this mean altcoins will just keep getting worse and no one will play with them anymore? Not necessarily. It reminds me of the summer of DeFi in 2020. Honestly, it feels a bit similar to now. Crypto needs a new wave of hype and innovation to spark a revolution. And if it’s accompanied by macroeconomic easing and low U.S. dollar interest rates, that would be even better.