Funny to see markets ripping on day one of 2026. My theory has always been that a huge number of investors booked major capital gains in 2025 across both commodities and equities. If 2025 really was the last year to tax-loss harvest crypto, it makes perfect sense that we’d see heavy selling into year-end. If you crushed it in equities, why wouldn’t you sell your alts at a loss, immediately buy back the same exposure, and lock in losses you can carry forward?