#比特币机构配置与囤积 Recently, I came across Cathie Wood's views and found them quite insightful. She emphasizes that Bitcoin is the preferred entry point for institutions into crypto, and the logic behind this is worth understanding for us retail investors: institutions allocate to BTC because it has the highest liquidity and the best risk resistance. During the sharp decline in wave 1011, BTC indeed performed better than other coins.

This gives us a lesson — don’t just focus on high returns from small coins. When engaging with new projects, we should also consider the fundamentals of the entire ecosystem. The market may have already bottomed out, and large institutional players are quietly positioning themselves. If traditional financial institutions like Morgan Stanley and Bank of America officially allocate to BTC through ETFs, that will be a new signal of increased volume.

For our engagement strategy, now is a good time to bottom fish for new projects. I suggest focusing on: first, tracking new airdrop projects built on the BTC, ETH, and SOL ecosystems, as these infrastructure-layer projects usually have more stable liquidity; second, prioritizing participation in new projects with institutional backing, which will have a higher success rate. Complete the engagement with minimal cost, then wait for institutions to take over — this is the way to maximize gains at this stage.