An important understanding of this bull market:

1> Institutional funds are driving this bull market, not retail investors. Their behaviors are completely different.

2> Institutions acquire assets from the top down, first acquiring the top tier BTC, and once sufficient, they move to the second tier ETH. After accumulating enough ETH, they turn to the third tier major coins like XRP, SOL, LINK, and XLM.

Therefore, we do not see the scenario of rising all ships; the logic is different. We cannot apply the previous logic to this bull market. At the end of last month, I realized this point, so I only used a very small position to speculate on small altcoins.