It's not that institutions are retreating—they are still increasing their positions. The real market crash comes from retail investors and short-term small whales in the ETF, who sell when they see new highs, causing a brief drop.$ETH It’s the same every time, there is usually a pullback after a new high.

Currently, BTC in the short term, apart from fluctuating around the line, is still trending upwards, but the increase will become more and more convergent.

ETH has risen from 2700 to a new high today of 4788, just a few dollars away from the historical high of 4868 in 2021, and has also experienced a brief pullback, which is normal. If it goes as expected, we will wait for a new high.

In the second half of this bull market, there is a clear lack of 'stimulation.' The movements of the big brother and E are like a dog pulling up, without giving a major pullback, and those who missed the opportunity are everywhere—let alone doubling, many people haven't even gotten on board.

This time, they may really not give you the chance to wait for a pullback; it's not just you who is disappointed, institutions are also missing out.

Their method is: either get back on board directly (for example, many whales sell E at 2500-3000 and buy back at 3600), or switch to new labels for speculation, with mainstream altcoins like DOGE, LTC, LINK, etc., being packaged as 'strategic protection zones,' directly triggering a surge.

I went through altcoins today: regardless of mainstream or small-cap, L2 and other sectors, even if the second phase of adjustment is over, most that follow BTC's rebound are still at low levels.

The next moves for altcoins are basically two types:

1️⃣ Enter the third stage of the main upward wave early, with volume and price rising together, a big surge (for example, recently OKB, the halving news directly pushed it from 40-50 after two years of consolidation to over 130 in one day, more than doubling).

2️⃣ Slowly follow the big trend, ultimately peaking a few times before quickly distributing at the end.

Most altcoins will take the second route; only those with sufficient funds and good quality will take the first route.

Is it still possible to get on board? It's not too late now, but if you wait longer, you will lose the cost advantage. As the market progresses, the entry channels are narrowing; once the main upward wave arrives, prices will be at another level. The best strategy in the late bull market is only one:

Find good value targets → If worried, enter in batches → Once on board, don't move around → Exit when the bull market peaks.

The feature of this bull market 'not giving a pullback' is very obvious; since the first phase in April, the price has been fluctuating upward. If you wait until the main wave comes in Q4 to get on board, you are just adding risk to yourself.

A few external dynamics:

Futu has launched retail trading services for Solana; they just mentioned plans for virtual assets in July and implemented them in August, which is good for the entire SOL ecosystem.

Ethereum's Google search volume has reached a historical high for the first time, surpassing BTC, with a global phenomenon of renewed popularity. Now there are no trapped positions above ETH, and space can open up at any time.

The parent company of Upbit has collaborated with Vietnam's MB Bank to launch the first local exchange; Vietnam currently has 3 million crypto users, expected to reach 30 million by 2030, a tenfold growth potential.

Trump: About to appoint a new Federal Reserve chairman.$BTC