The investment logic of the cryptocurrency market is undergoing significant changes, with large consortia and institutional funds gradually becoming a key force in guiding the market direction. This trend is reshaping the strategic choices of investors.

Currently, the flow of funds shows a clear pattern. Investors first concentrate resources to push up the price of Ethereum (ETH). Once ETH reaches the expected peak, some profit-taking funds will shift towards mature encryption currencies with a broad user base, such as Dogecoin (DOGE) and Litecoin (LTC), which are likely to become preferred targets.

The criteria for market selection have also changed. In the past, simply hyping a concept could lead to price increases, but now investors pay more attention to the actual background of projects. Solana (SOL), which has the expectation of an ETF, or projects supported by consortiums are more likely to receive sustained market attention. In contrast, speculative coins lacking real applications find it difficult to gain favor like they used to.

Since June, the market has repeatedly validated a new investment logic: Institutional endorsement > Actual application > Liquidity. Investing in cryptocurrencies now resembles stock selection, requiring attention to the main capital behind it. Projects that have received support from Wall Street or involve traditional financial institutions are likely to become the main players in this market cycle.

In this environment, the influence of retail investors has significantly weakened. A wise investment strategy is to follow the direction of large funds and pay attention to projects supported by strong institutions. This shift marks the cryptocurrency market's development towards a more mature and regulated direction, and investors need to adapt to this new market landscape.