Recently, the market has become lively again. Some say that a large asset management institution is crazily selling coins, with BTC and ETH being frequently dumped, and the daily trading volume has exceeded 250 million USD. It sounds like it's going to collapse, but is it really the case?

Actually, that's not the case. On-chain data does show large sell-offs, but the rhythm needs to be examined closely. The volume sold calculated by the minute sounds alarming, but this kind of controlled, rhythmic continuous selling is completely different from a panic sell-off where everything is dumped all at once. The former is a standard institutional operation, while the latter is a true panic escape.

Why did they specifically target these two coins? Simply put, it's because they have the strongest liquidity and are the easiest to sell. When institutions need to adjust their asset allocation, respond to user redemptions, or shuffle funds, they will definitely sell what is "easiest to liquidate," not what is "least favored." This is common sense.

Let's take another look at the background. This institution had recently been promoting spot ETFs and derivatives, making its "long-term bullish" stance clear. Now, this move seems more like a phased profit-taking and rebalancing rather than a complete withdrawal. Experienced institutions never make decisions based on emotions; every step is calculated.

Why do retail investors get nervous? It's probably because they habitually see "selling" as "bearish." But in the logic of institutions, selling is just to buy more efficiently in the next step.

So back to reality: this is not a flight before a tsunami, but more like shifting gears in a storm. Rather than getting caught up in how much has been sold, it's better to see clearly – where will this money ultimately flow? That's what is truly worth pondering.