🧵 PANews Original｜NVIDIA Hits $5 Trillion—Crypto Markets Left in the Dust 1/ Last night marked a historic milestone as @nvidia market cap soared past $5 trillion, spotlighting a new peak in global capital markets. Meanwhile, the crypto market plunged deeper into “hell mode”: Bitcoin briefly tapped $120K, yet lacked retail participation, resembling more of an institutional capital play. Altcoins suffered even more—crippled liquidity, weak narratives, and fleeting hype cycles.

2/ As equities and gold rally in tandem, capital is being siphoned away from crypto. The S&P 500’s YTD return has overtaken Bitcoin’s, and Korea’s equity market volume now dwarfs crypto trading.

3/ The industry is grappling with three core challenges: > Underperformance: Crypto assets continue to lag behind traditional markets in returns. > Narrative fatigue: Innovation is stagnant, use cases remain vague, and narratives are heavily recycled. > Sentiment-driven fragility: Meme coins are over-reliant on short-term hype and lack staying power.

4/ Holding the Line: Patience, Hard Value, and the Road to Crypto’s Next Breakout A trader remarked: “Crypto feels like digging for gold in a pile of shit, but with free-market flush-outs and rapid innovation, miracles can still happen.” What remains essential now are patience and hard value. To break out, crypto must align with dominant narratives like AI, catalyze Agent Finance, and drive real-world asset tokenization. Meanwhile, establishing liquidity buffers and circuit breakers will be key to surviving the storm and positioning for the next capital influx. This is a time for deep squats—before the next leap.