Shiller PE currently sitting above 40 - that's pretty stretched territory. It might actually be healthy if large-cap US equities took some time to consolidate and pull back gradually. Picture a scenario where the broad market softens a bit, allowing the dollar index to ease while emerging markets and crypto start finding their footing again. Sometimes rotation beats concentration. When mega-cap tech gets this rich on valuation metrics, alternative assets like crypto often become more attractive on a relative basis. The asymmetry could flip pretty fast if growth narratives shift or macro conditions change.