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Conversation between Ed Chin and Tejas Nalval: "This Time, the Fate of Cryptocurrency is Completely Different"
【Plain Language Guide】This conversation transcript provides a deep structural analysis of major changes in the crypto market. Macro expert Raoul Pal engages with pioneering hedge fund managers to directly examine the liquidity truth behind the "1010 crash."
The article not only dissects how ETFs distort markets and Michael Saylor's leverage logic, but also forward-looking points out: the four-year cycle may have become obsolete, and hundredfold population growth driven by AI Agents will reshape the crypto economy TAM. A hardcore guide to seeing through 2026 trends.
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