The recent market performance has once again proven a cruel reality - strong assets attract capital, while weak coins are pushed out. In last week's market fluctuations, Bitcoin fell below $85,000, and Ethereum lost the $3,000 mark, resulting in a direct evaporation of $1.4 billion in market capitalization. However, the changes in the underlying patterns behind this plummet may be more worthy of attention than the numbers themselves.

Observing the capital flows over the past six months reveals some clues. Since summer, institutional investors have begun to systematically increase their holdings of Bitcoin and Ethereum, which is not just a minor adjustment but a systematic allocation behavior. Meanwhile, the awakening of retail investors is also accelerating—more and more people are starting to reduce their holdings of alternative coins and shift towards these two mainstream assets. The result is evident: the liquidity of most altcoins is rapidly drying up, and price pressure is intensifying.

The driving force behind this is very clear—big players in traditional finance are steadily entering the market. They are not buying riskier coins for the sake of excitement; they only recognize assets with the highest liquidity and market depth. The direction of this capital is very strong, and it will continue to cause fluctuations in leveraged positions in the short term, but the supporting logic in the medium term has never been so solid.

The market has indeed entered a relatively calm period at the end of the year, with range fluctuations becoming the main theme. However, in this pattern, the choice of funds is extremely harsh - they only flow to the places with the most abundant liquidity. If you are still waiting for a rebound in altcoins, now may be the time to reassess your investment direction. The trend of the market is already very clear, and the answer lies among those mainstream coins with the strongest liquidity. Remember this: in the crypto market, deviating from core assets could mean missing the next cycle.