Risk Appetite Is Back , But It Is Not Everywhere. Today’s market is not saying: “Buy everything.” It is saying: “Buy the right pockets.” That difference matters. $QQQ and $SPY staying firm shows that equity risk appetite is still alive. But the leadership is not perfectly clean. AI challengers like $AMD are catching strong rotation , while $NVDA needs to prove whether weakness is only a pause or a deeper reset. $MSTR staying strong while $BTC remains under pressure shows that public-market investors are still willing to price Bitcoin exposure through equities before spot crypto fully confirms. That is an important divergence. $COIN and $HOOD matter here too. If they start strengthening with $MSTR , it means crypto-access demand is expanding. If they lag , it means the market is still cautious on direct crypto activity. For crypto , the setup is simple: $BTC needs to stabilize first. $ETH needs to stop underperforming. $SOL needs broader risk appetite. $SUI , $NEAR and $AVAX need liquidity expansion , not just a one-day equity bounce. This is why I am not treating today as a full confirmation. It is a rotation signal. AI equities are attracting capital. Crypto proxies are testing strength. Spot crypto is still asking for proof. My watchlist: Equity risk: $QQQ , $SPY AI rotation: $AMD , $NVDA , $MU , $MRVL Crypto proxies: $MSTR , $COIN , $HOOD Spot crypto: $BTC , $ETH , $SOL High beta: $SUI , $NEAR , $AVAX My read: The market is warming up. But it is not fully convinced. The next big signal comes when $BTC confirms what equities are already trying to price. Until then , this is not a green light. It is a yellow light with momentum. #OKX #StocksGoOnChain #Crypto #MarketAnalys