CoinWorld News, Wintermute analyst Jasper De Maere stated that the significant underperformance of cryptocurrencies compared to other asset classes over the past two months may be one of the reasons for the current relatively strong divergence. He believes that digital assets are different from stocks and are not directly affected by macro narratives such as supply chain issues and energy costs, which becomes a relative advantage in the current market environment. Stocks and cryptocurrencies have gradually become "alternative risk assets." In the context of uncertainty suppressing stock capital inflows, some capital may be rotating into digital assets. However, he also warned that this outperformance may not continue. If geopolitical tensions lead to further rises in energy prices, boosting inflation and weakening rate cut expectations, it could put pressure on the crypto market. In the short term, the market is expected to remain highly volatile until a clearer macro direction emerges.