An interesting phenomenon has been observed recently - the panic selling in the market seems to have come to an end.

Many people are still staring at the so-called "four-year cycle", but to be honest, this thing has never been an iron rule. What is really worth paying attention to? Liquidity. Yes, it is the flow of money, not the crossover of those technical indicators on the candlestick chart.

Interest rates? It's basically already a clear card. More importantly, I noticed that some sovereign funds are intriguing. When it was $120,000, they were buying, and when it was $100,000, they continued to increase their positions, reaching 80,000? The more dangerous it is. This group of smart money is clearly laying out in advance for the liquidity cycle in 2026.

When it comes to institutional entry, this wave of operations is not the kind of chasing up and down like retail investors. They sweep goods in panic and greedy when others are afraid – this sounds corny, but that's how the market works.

Beyond Bitcoin, the macro forces behind Ethereum and the entire altcoin market are also quietly changing. The real competitive advantage is not which hot spot you chase, but whether you can see the true intentions of these big funds. The eve of bull market expansion is often this stage of seemingly calm but actually undercurrents.

The bottom prototype has appeared, the question is are you ready?