Institutional entry has changed the game, and this is my recent core discovery. The four-year cycle of Bitcoin hasn't disappeared, but the driving force has indeed shifted from halving events to the funding rhythm of institutional investors—what does this mean for us retail traders?

In simple terms, the market now relies more on Federal Reserve policies and liquidity conditions rather than on on-chain technical cycles. Although institutional investors have become dominant, their decision-making is more cautious. During periods of policy uncertainty and tightening liquidity, their entry pace naturally slows down. This results in Bitcoin being more likely to trade sideways within a range in the short term rather than breaking out quickly.

Our takeaway is: don't blindly chase the pump. This current phase is actually a good time to accumulate projects and engage. Institutions are watching from the sidelines, liquidity is limited, making it an ideal window for intensive airdrops of new projects, which often require low participation thresholds. I recommend focusing now on exploring airdrop maps, finding new projects with low cost and high engagement. When liquidity truly improves and large funds enter, your airdrop gains will be fully realized.

In summary, understanding market rhythm is key to more efficiently managing your time and resources.