#比特币机构建仓 I was reminded of those days when people were mesmerized by the concept of "institutional accumulation" after seeing MicroStrategy's stock weakness due to equity dilution concerns. Behind Bitcoin's decline isn't some mysterious market manipulation, but real market forces at play—forced liquidations, legislative obstacles, global policy uncertainty. These are all tangible risk factors.

The most ironic part is that retail investors who followed the trend back then are still waiting for "institutional support," not realizing that major institutions themselves are also worried about equity dilution. This is reality: nobody will be responsible for your account, and even the biggest players have to bear the consequences of their decisions.

After experiencing several cycles, I finally understood that chasing "institutional movements" has always been a false premise. The truly sustainable approach is quite simple—recognize the sources of risk, don't change your investment logic just because of price fluctuations, and never expect to catch the bottom through frequent trading. Stay vigilant during downturns and stay clearheaded during upswings. This is far more solid than betting on any institutional movement.