In previous bull markets, new investors flocked in, investing entirely on instinct. Any altcoin purchase could double their value, and everyone believed they could get rich overnight.
But this round is different—it's not retail investors but institutional capital that's driving the market. There's no frenzy of new investors rushing in, but rather quiet capital making subtle investments.
Put yourself in their shoes: if you were a fund manager managing hundreds of millions of dollars, would you buy an unknown altcoin or a long-lost meme? Impossible. You have to write an investment report, convincing your superiors with compliance, returns, and logic. Such speculative junk wouldn't pass internal review.
Institutional funds tend to flow into top, large-cap projects, especially those based in the United States with sound regulation and transparent operations. These are the ones they're willing to invest heavily in.
Therefore, the first wave of capital in this bull market will likely be concentrated in high-quality, leading projects, creating an "institutional rush."
Ordinary investors should also follow this trend and avoid bottom-fishing in unpopular, low-liquid, copycat stocks—otherwise, they'll likely lose everything.
