Retail investors are scratching their heads over Bitcoin's lackluster performance this year, but some professional investors have long seen through the underlying logic of this game.

"We've been buying," said the investment director of a leading asset management firm. It sounds nothing special, but in professional circles, this statement carries significant weight. Most retail investors are scared off by Bitcoin's relative weakness, while these Wall Street players have caught a different scent.

Data doesn't lie. Bitcoin has fallen about 6% in 2025, while the Nasdaq 100 index has risen considerably, creating a huge divergence of approximately 50%. But you know what? It is precisely this extreme mismatch that often hides the seeds of the next rebound.

**Disparity Between Sentiment and Reality**

When the fear and greed index for cryptocurrencies drops to an extreme level of 15, and there are endless discussions on Weibo and X about "Bitcoin is dead," institutional investors are doing the exact opposite—quietly accumulating positions.

On-chain data shows that addresses holding over 1,000 Bitcoins are continuously increasing their holdings. This is like a silent transfer of power, with seasoned holders steadily passing chips to ETF and corporate fund buyers.

This divergence reflects the most authentic market picture: retail follows emotions, while institutions look at value. The leverage level in the crypto market has already decreased significantly, and financing rates have returned to normal ranges. What does this usually mean? The market has been cleaned up, and conditions for a rebound are quietly maturing.

2026 could truly become a capital feast. The key is whether you are panicking and capitulating or quietly positioning yourself in silence.