One fact is that over the past year, BTC has seen the highest inflow of funds in history. Why do I say this? There is a piece of data showing that this year, the ranking of the highest inflows in the entire market has BlackRock's BTC spot ETF at sixth place. Not to mention that being sixth means it has already been recognized by the market. Moreover, it is such a product that can attract capital.
However, it is also the worst performing bull market so far. If we carefully compare each bull market with the previous ones, the biggest difference is the number of retail investors participating, which can basically be said to be nearly extinct.
Since Wall Street's new whales and other institutions intervened, they have been continuously washing out the market. Every time the market's fervent sentiment seems to be brewing, they will pour a bucket of cold water on it, or wash it until it is stripped bare, or completely washed out.
So we can think about a question. After their intervention, a very large amount of capital is still being positioned in advance during a period of tightening in the broader environment, and is continuously suppressing prices, with the goal of clearing out retail investors. What is the purpose of this?
From the chart, we can see that the intensity of the next round is always lower than the previous one, and this is not without reason due to the volume of funds. The higher the price, the greater the amount of capital it bears. If we want to initiate the next bull market, does this round of bull market need to position many things related to capital? $BTC
