According to NS3.AI, Wintermute analyst Jasper De Maere observes that crypto assets have recently underperformed compared to other asset classes. However, he suggests that they might benefit from capital rotation as alternative risk assets. De Maere points out that cryptocurrencies have a relative advantage over stocks due to their reduced sensitivity to macroeconomic factors such as supply chains and energy costs. Despite this, he warns that potential inflationary pressures and geopolitical risks could heighten volatility and challenge the outperformance of cryptocurrencies.