---
title: "The AI Melt-Up Finally Started Cracking"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286155205.md"
description: "Just In TimeThe AI melt-up came into today at historically stretched levels. Nasdaq was trading more than 15% above its 100 day moving average, risk appetite had surged to one of the highest readings in years, and retail call buying was approaching meme-era extremes.Everybody suddenly became terrified of missing the upside at the same time. That is usually when reversals start becoming violent."
datetime: "2026-05-12T20:42:21.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286155205.md)
  - [en](https://longbridge.com/en/news/286155205.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286155205.md)
---

# The AI Melt-Up Finally Started Cracking

## **Just In Time**

The AI melt-up came into today at historically stretched levels. Nasdaq was trading more than 15% above its 100 day moving average, risk appetite had surged to one of the highest readings in years, and retail call buying was approaching meme-era extremes.

_Everybody suddenly became terrified of missing the upside at the same time. That is usually when reversals start becoming violent._

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