#比特币价格走势 Looking at this week's data, the institutional stance has become very clear. Strategy has been buying over 10,000 BTC for two consecutive weeks, Cathie Wood openly states that the market has bottomed, and CoinShares reports show funds have been flowing in mildly for three weeks in a row—these signals combined indicate that large capital has already been positioning at the bottom.

A key point to observe is the divergence in Bitcoin's performance. Products that short BTC have been outflowing for the second week in a row, which means the shorts are conceding. The US market is leading global inflows ($799 million), indicating that institutional expectations for the future are significantly improving. In contrast, Ethereum's inflow growth rate of 148% this year has outpaced BTC, suggesting the market is seeking more diversified risk exposure.

From a follow-the-leader perspective, the current key is to discern the quality of signals. Not all increases in holdings are bullish signals—Strategy's average cost is $75,000, and buying at the current price of $92K clearly indicates adding positions at a high point. The logic here should be confidence in the long-term value of assets, not short-term arbitrage. If you're following large institutional players, you should focus not on single purchase sizes but on their average cost over the cycle and their holding periods.

While the argument that the market has bottomed sounds optimistic, I place more importance on the capital support behind this optimism. Continuous positive inflows are the real confirmation of a bottom; a single week's inflow of $864 million is moderate but sustained—this is more convincing than any hype calls.

Next, we should watch the attitude of traditional financial institutions. If firms like Morgan Stanley, Bank of America, and others mentioned by Cathie Wood officially start introducing BTC exposure, that would be the starting gun for a new wave of upward movement.