According to @QCompounding, J.P. Morgan’s Guide to the Markets shows that the top 10 U.S. stocks by market cap change markedly over time, underscoring persistent leadership rotation and the low durability of current mega-cap leaders (source: J.P. Morgan, Guide to the Markets, as cited by @QCompounding). For trading, the historical turnover supports systematic portfolio rebalancing and sector rotation strategies to manage concentration risk rather than assuming today’s winners will persist (source: J.P. Morgan, Guide to the Markets). Equity leadership shifts can influence broader risk appetite that has been increasingly correlated with crypto returns, making breadth and rotation useful context for BTC risk management in multi-asset portfolios (source: International Monetary Fund analysis on rising stock–crypto correlations).