#ETF与衍生品 I believe Wood's three-layer logic is worth pondering—BTC as the entry point, ETH as the infrastructure, and SOL as the application platform. This framework essentially reflects the approach institutions use to allocate crypto assets. During the flash crash on 1011, I also had followers who were liquidated directly; at that time, BTC had the highest liquidity but ironically became a "sacrificial pawn," being hammered down and dragging the entire market down. This detail is very critical, indicating that in extreme situations, institutional risk appetite can switch rapidly.

The current variable is when traditional financial giants will officially enter the market through ETFs. When reviewing copy trading strategies, I found that such policy-driven turning points are often the easiest to miss—many people are still tangled in short-term volatility, while large funds have already been preparing for systemic positive developments.

Regarding the choice of copy trading style, my advice is: if you can find traders who follow institutional allocation logic and your risk tolerance allows, it’s worth paying attention. But never try to go all-in before ETFs are officially implemented; diversified positions are a longer-lasting approach. Judging whether the market has bottomed out is just for reference—setting stop-loss orders in real trading is more important than any prediction.