#比特币价格走势 Looking at the data from the past two weeks, a scene from late 2017 flashes through my mind. Back then, FUD was everywhere, and the coin prices were hammered down hard, but the quiet strategic moves by institutions often turned out to be the real signals.

Strategy has bought over 10,000 coins for two consecutive weeks, totaling more than 21,000 coins. This pace and intensity are not something idle funds can achieve. What's even more interesting is that their per-coin cost has gone from the previous $74,972 to now chasing at prices of $90,615 and $92,098. What does this indicate? It shows that in their eyes, the current prices are already worth it. Cathie Wood's words actually reveal the essence—assets with the strongest liquidity tend to bottom out first, and after hitting the bottom, the rebound is also the strongest.

From the flow of funds, there has been net inflow for three consecutive weeks, especially active in the US market. This is not something retail investors can sustain. Although Bitcoin has only seen inflows of 27.7 billion this year (less than the 41 billion in the same period of 2024), the second consecutive week of outflows from short products is a key signal. The short positions are shrinking, indicating that big funds are no longer bearish.

I have experienced several cycles, and every time before hitting bottom, there are signs like these: institutions do not play by the usual rules, and the FUD wave is at its peak, yet it’s often when they are the most aggressive. This pattern is somewhat similar to what we saw over a decade ago, only the scale and the quality of participants are completely different now.

When traditional financial giants like Morgan Stanley and Bank of America officially enter the ETF market, looking back at the current prices, many people will probably regret it. History never repeats exactly, but it always rhymes.