The bull market is still here, but the people making money have changed.

Take a look at the recent candlestick charts—BTC and ETH are climbing steadily, but how many people around you have actually made real profits? The main players in this cycle are no longer retail investors rushing in on community hype, but traditional institutions armed with asset allocation models and focused on financial reports. For the first time in history, the entry channel for Bitcoin is firmly controlled by ETFs—the capital whales are quietly accumulating through Wall Street’s financial pipelines, and you barely feel any volatility.

The rules of the game have been rewritten:
In the past, retail investors chased hot topics and narratives, driving the bull market with emotion.
Now, institutions price assets with models, and retail investors are just along for the ride.
Want to achieve a leap in wealth? You’ll probably need to understand how these institutions structure their balance sheets first.

In the coming years, this trend will only accelerate:
Pricing power will rest in the hands of Wall Street’s quantitative models.
What drives the market is the entry moves of public companies’ finance departments and asset management giants.
The real game-changer lies in which chain’s infrastructure can accommodate this influx of big money.

Do retail investors still have a chance? Yes, but you’ll need a new approach. Don’t blindly FOMO and chase pumps—instead, think carefully: What assets will institutions be required to allocate next? Which sectors will become essential paths as “compliant gateways” open up? Maybe the answer lies in RWAs, in on-chain government bonds, and in protocols that generate real cash flow.

Is the retail investor era over? Not necessarily. It’s just that the logic of making money has evolved from “listening to stories” to “reading blueprints.” You don’t need to beat the institutions, but you do need to understand the direction they’re heading.