Capital that would have stayed in crypto is rotating into AI, which may thin the competition for those who remain.

Crypto analyst and trader Flood made a candid post this week arguing that the sector has reached a level of apathy comparable to 2019 to 2022, and that smart money is rotating into AI.

His argument, however, is less a warning than a counterintuitive call to action for those willing to stay.

Years of Scams Have Taken Their Toll

The mood across crypto right now resembles those prior lows more than most people want to admit, and Flood says that is exactly the point.

“Crypto is paying a high price for years of altcoin scams and grifts,” the analyst wrote….