📉 Has the "safe-haven asset" positioning of cryptocurrencies been shattered? Once regarded as independent of traditional finance, the price trends of cryptocurrencies now highly overlap with those of U.S. stocks, no longer following an independent trajectory.
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🔗 Institutionalization, macroeconomic linkages, and regulatory integration have collectively shaped the new market norm. The fate of cryptocurrencies is now inextricably linked to Wall Street, and the era of independent assessment is over.

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