Alliance DAO co-founder QwQiao has issued a cautionary note regarding the current state of the cryptocurrency market, suggesting it may be approaching the peak of a four-year cycle. Despite positive macroeconomic signals such as Federal Reserve quantitative easing and interest rate cuts, QwQiao described crypto as a 'self-fulfilling asset class' and warned of a potential 'disappointing crossroads.' QwQiao also pointed to the influence of AI stocks on the market, likening NVIDIA's role in AI to Bitcoin's in crypto. He cautioned that a burst in the AI stock bubble could lead to a broader market downturn. On a positive note, he expressed optimism about the growth of stablecoin startups, which he believes are expanding more rapidly than AI startups due to less competitive pressure.