In the past
When US stocks rose, the crypto market also rose.
When US stocks in AI rose, the crypto market's shoddy AI also followed suit chaotically.
Now
When US stocks rise, the shoddy ones plummet;
When US stocks and crypto stocks rise, the related crypto market seems to be dead.
The essence is that institutional funds in the crypto market have exited, and the shoddy market has entered a "structural bear market," where taking medicine and getting injections no longer help.