Serenity: Leveraged Traders Shift to Crypto and Biotech, AI Stocks May Recover Faster

The rotation described here is a risk-appetite signal more than a sector call: leverage moving toward crypto and biotech suggests traders are hunting higher-beta exposure rather than defending positioning. That matters for anyone tracking where speculative capital sits, since these flows can amplify moves in both directions. The AI-recovery remark is the softer claim, and the open question is whether it reflects genuine demand returning or simply leftover conviction from the prior AI trade. Whether the rotation persists or reverses as risk appetite shifts is worth watching.