1 mo
When One Fall Becomes Many — Crypto Trades as a Single Risk System I kept noticing something weird about my on-chain holdings. Didn't matter what I owned, different tokens, different narratives, different communities. When sentiment shifted, everything moved together. Up together, down together. Eventually I had to ask: is this diversification, or just variety? That question matters. Real diversification means owning things that behave differently when conditions change. The Problem Nobody Talks About: Traditional finance solved this decades ago. You mix asset classes that respond to different forces. But for Crypto? It still mostly moves as one....

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