#ETF与衍生品 Seeing Wood's latest insights, I have some thoughts. As the most liquid asset, BTC indeed became the "bleeding point" during the flash crash on 1011 — institutions first dumped BTC, causing other tokens to follow and suffer even worse declines. But this also reveals a mechanism: BTC's resilience and status are widely recognized.

More importantly, her classification of the three major assets — BTC (global currency + institutional gateway), ETH (institutional infrastructure), SOL (consumer applications) — this logic actually guides a follow-trading approach: traders with different risk preferences will have different position allocations. Aggressive traders will favor SOL, while conservative ones will focus on BTC and ETH. If you're following someone, then you need to see which direction your chosen trader leans toward.

The current variable lies in whether traditional giants (like Morgan, Bank of America, etc.) will officially enter via ETFs. Once this incremental capital flows in, the liquidity landscape will be rewritten, potentially triggering a new round of market rallies. In other words, this time window might be the last opportunity at the bottom zone — provided you choose the right traders to follow. My recent strategy adjustment is to reassess those traders with scientifically balanced holdings and strong stop-loss execution, avoiding chasing highs.