Mr. Xiaolong's Today's Perspective ----The bear market of BTC has ended, the bull market has started, and one reason behind it is actually hot money flowing back from AI to BTC? Today, I saw a tweet from CZ stating that hot money is flowing back into the cryptocurrency market from AI. I have verified that this judgment is supported by data, but a key point needs to be clarified. Currently, only "hot money" is flowing back, not "main wave funds". Bill Miller IV made it clear on CNBC that "AI trading is starting to lose its luster," and long-term investors are shifting their capital from AI stocks to Bitcoin. The reason is that the return on investment of AI capital expenditures is questionable, and valuation pressure is accumulating. Arthur Hayes said more thoroughly: AI sucked all the money from the crypto market, and will continue to suck until the foam bursts, until the foam bursts, the funds will return in a large scale. Interestingly, the data has already been validated, with Bitcoin's 30 day correlation with Nasdaq dropping to its lowest level since the FTX crash, while its correlation with gold has surpassed 50%. Bitcoin is transitioning from a narrative of "highly leveraged technology stocks" to a narrative of "digital gold," and this transition itself is about funds voting. At the same time, the giant whale continued to place orders and take orders below 77000, with a net increase of 73300 BTC in 60 days, reaching a new high since April. This round of capital outflow is already happening, but the scale is not large enough. So, we have seen Bitcoin fluctuate narrowly between 76K-80K in recent days, and there is a reason why the price cannot fall, because there are long-term holders and hot money flowing back from AI to the cryptocurrency market who are buying BTC at a low price and causing trouble. What CZ saw was an early signal of the primary market. Hot money was tentatively returning, which was indeed a precursor to the bursting of the AI foam.