According to @lisaabramowicz1, a Deutsche Bank investor survey shows broad agreement that an AI/tech bubble is the dominant market risk for the year ahead, eclipsing all other concerns. According to @lisaabramowicz1, the same survey ranks a loss of Federal Reserve independence and a crisis in private credit as the next biggest risks. According to IMF research (Crypto Prices Move More in Sync With Stocks, 2022), tighter equity–crypto linkages mean an AI/tech-led drawdown could transmit to digital assets, pressuring BTC and ETH alongside high-beta tech. According to the Bank for International Settlements 2023 Annual Economic Report, rapid growth and opacity in private credit pose potential vulnerabilities, suggesting that stress in this market could tighten broader risk appetite and spill over to crypto liquidity.