#美国消费者物价指数发布在即 Kraken files for a SPAC listing on NASDAQ with a fundraising target of $250 million. The signal behind this is significant — traditional finance is beginning to adopt more standardized methods and is clearly positioning itself in the crypto infrastructure sector.

Just looking at a set of on-chain data reveals how big the situation is: BTC exchange outflows have continued for three consecutive weeks. At the same time, large wallet addresses have significantly increased their holdings over the past week. The combination of these two events is definitely not a coincidence. Institutional actions always precede retail awareness. The SPAC financing method itself is a high-threshold game, and scattered retail funds simply cannot participate.

There's also a detail worth noting: Kraken has simultaneously submitted a confidential S-1 filing, indicating two parallel tracks. One is acquiring infrastructure assets through a SPAC, and the other is pursuing a direct IPO. What does this imply? The channels for traditional capital to enter the crypto market are opening up. Over the next six months, the narrative will increasingly focus on "compliance."

In the short term, the market will definitely hype up the "listing concept," but the real impact will be seen in the medium to long term. Once more traditional funds have compliant entry channels, the current liquidity scale will be fundamentally reshaped. This is a phase of consolidation and buildup; minor fluctuations are not a cause for concern. Hold your spot positions steady, and focus on highly liquid, clearly compliant assets like $BTC and $ETH.

Remember one thing: the market has already started moving before the news becomes clear. The bull market won't wait for you to react.