Commercial real estate just hit a weird milestone—deal volume dropped for the first time in nearly two years. Not a crash, but definitely a shift.

Why does this matter? When traditional assets like CRE slow down, institutional money starts looking elsewhere. We've seen this pattern before: tightening in legacy markets often precedes capital rotation into alternative assets.

The timing's interesting too. With interest rates still elevated and office spaces struggling post-pandemic, big players are reassessing where to park capital. Some of that flow could eventually find its way into digital assets as a hedge against traditional market uncertainty.

Not saying crypto pumps tomorrow because office buildings aren't selling—but these macro shifts create the conditions for capital reallocation. Worth watching how institutional treasury strategies evolve as conventional real estate loses momentum.