🧭 The biggest risk in crypto right now isn’t volatility it’s narrative overlap.
AI tokens often look diversified on the surface, but under the hood they’re driven by the same assumptions: future demand, promised utility, and adoption curves that haven’t been stress-tested yet. When expectations shift, that similarity turns into correlation risk.
We’ve already seen how quickly momentum sectors can unwind. Assets like
$FET didn’t fall in isolation liquidity exited the theme. Spreads widened, volume dried up, and what looked like multiple bets revealed itself as one crowded trade.
Exe