Recently, on-chain data analysts pointed out an interesting phenomenon: the inflow of funds into Bitcoin seems to have reached a critical point.

Specifically, MicroStrategy's holdings of 673,000 BTC have remained relatively unchanged, but looking at the market fund flows, money is moving into the stock and gold markets. What signals does this reveal? It turns out that the cycle supporting BTC—"institutions heavily sell off while retail investors follow suit and cut losses"—is no longer effective.

What does this mean? In the coming months, Bitcoin may just experience dull fluctuations, and don't expect to see those thrilling plunges anymore. Market participants are reallocating assets, and the structure of liquidity sources has changed. For traders, this phase requires patience rather than chasing exciting volatility.