Woofun AI notes that Fu Peng, chief economist at New Fire Group, stated global assets including mainstream cryptocurrencies are fundamentally tied to liquidity. He observed that the shift from easing to tightening has created a "contraction" market where capital concentrates on high-certainty core assets.

Fu Peng highlighted that the AI industry is transitioning from hardware infrastructure spending to value verification, noting Google's free cash flow drop to zero. He advised against blind long-term holding of AI stocks, citing a 10-18 month switching window. For crypto, he predicted that after a washout driven by liquidity contraction, core assets like Bitcoin and Ethereum will stabilize while junk coin speculation becomes ineffective.