#机构投资加密货币趋势 Looking back, such market fluctuations always leave me with deep feelings. Bernstein's analysis reveals investors' concerns about the four-year cycle of Bitcoin, leading to the recent dumping. This cyclical expectation has indeed formed a kind of self-fulfilling prophecy, but I believe the current situation is different from the past.

In the past six months, long-term holders have sold a large amount of Bitcoin, but the inflow of institutional funds has largely absorbed this selling pressure. This increase in institutional participation marks a maturation of the market. What we may be seeing is not a cyclical peak, but a normal adjustment within a multi-year upward trend driven by institutions.

Historically, such adjustments provide investors with excellent entry opportunities. However, we cannot ignore the risks - market sentiment remains fragile, and further declines may occur in the short term. The key is to closely monitor the support level around $80,000, which could become an important foundation for future rebounds.

Overall, I remain optimistic about the long-term prospects of the cryptocurrency market. The continuous influx of institutional investors will bring more stability and liquidity to the market. However, we must always be vigilant, as history tends to repeat itself in new ways. Staying cautious and flexible is essential to remain undefeated in this market full of opportunities and challenges.