Watching the main players in the enterprise sector buy aggressively, many people's first reaction is: aren't they standing guard at the 100k high ground? Is this dip for averaging down and unlocking positions, or do they genuinely believe this is the bottom? Actually, this is the biggest difference between institutions and retail investors. Retail investors see unrealized losses on the candlestick chart, while institutions consider the long-term on their balance sheets. For companies, being able to absorb panic selling at this level indicates they are not concerned about short-term fluctuations of a few thousand dollars, but genuinely believe in Bitcoin's strategic value as "digital gold." Their willingness to buy often means that, from a longer time horizon, this is the bottom zone.

In contrast, retail investors have become the fastest to run in this rally, perfectly illustrating the opposite of "buying the dip and selling on the rise"—cutting losses and exiting. The fact that funds are moving into Ethereum staking is also a thought-provoking signal. It shows that funds haven't truly retreated but are choosing the relatively conservative approach of "locking in and earning yields" to lurk in the market. The activity level of funds hasn't decreased, indicating market enthusiasm is still there, making it difficult for the market to fall into a dull, stagnant downward trend.

Faced with this strange cycle of "shouldn't fall but does," I have also adjusted my strategy. My long-term view on Ethereum remains unchanged; after all, macro risks haven't been fully released, and we can't blindly turn bullish just because of a short-term rebound—defensive logic must be maintained. But since Bitcoin has major support from big players, I also choose to follow along modestly, set stop-losses, and take profits quickly.

Whether this rise is a "brief flash of light" or a trap set by the main players to lure more buyers, at this unpredictable juncture, a combination of long and short positions and small-scale trial and error is the way to survive. After all, in the face of the market, any confident prediction carries the risk of being proven wrong. Only flexible strategies can keep us alive. $BTC