China’s AI Pivot: The Liquidity Drain That Reshapes Crypto’s Macro Map
The silence was deafening. When Xi Jinping took the stage at the World Artificial Intelligence Conference for the first time, the global tech world leaned in. He didn’t mention crypto. Not a single word on blockchain, digital yuan, or Web3. Instead, he unveiled a 29-country AI cooperation body—a coalition designed to bypass the American chip blockade and rewrite the rules of AI governance. For those of us watching crypto through a macro lens, this wasn’t a pivot. It was a liquidity signal. And as I’ve learned from years of tracing capital flows through on-chain data, illusions fade when the tide of liquidity recedes.