Alex Thorn, head of research at Galaxy Digital, has identified three significant factors that could propel the next cryptocurrency rally. Despite recent market downturns, Thorn points to increased capital spending on AI, the growing adoption of stablecoins, and the rise of tokenization as pivotal elements for long-term growth in the crypto sector. Thorn acknowledges current challenges such as macroeconomic uncertainties and decreased purchasing by digital asset treasury firms. However, he maintains a cautiously optimistic outlook, stressing the importance of understanding market psychology and the impact of reduced liquidity in the short term.