Hot Money Rotation Accelerates: From Bitcoin to Gold, Then to AI and Memory Semiconductors

Odaily Planet Daily Report As the momentum of Bitcoin and gold moderates, investors' funds are rapidly rotating into AI infrastructure, as well as storage and semiconductor-related stocks.

Data shows that market attention and capital flows have clearly shifted from cryptocurrencies to high-growth tech sectors. Starting from a low of around $15,000 in November 2022, Bitcoin reached a high of approximately $126,000 in October 2025, representing a cumulative gain of over 650%. Gold followed suit, breaking above $2,000 per ounce in early 2024, rising to a high of $5,200 per ounce in February 2026, before currently retreating below $4,400.

AI leader NVIDIA (NVDA) also experienced a pullback after a short-term high and is currently slightly above its six-month average. The influx of capital has clearly shifted to storage and semiconductor companies like SanDisk and Micron Technology. Micron's market capitalization surged from $70 billion to $1 trillion within a year, demonstrating the strong pursuit of growth sectors by hot money.

Looking ahead, with the upcoming potential large-scale IPOs of companies like SpaceX, OpenAI, and Anthropic, investor attention may once again turn to emerging tech giants. Historical experience shows that hot money in the market tends to chase the latest "bright spots." Bitcoin and crypto assets might become marginalized in the next bull run, and this trend could last longer than expected. (CoinDesk)