Last week, the capital inflow into crypto investment products exceeded $1.31 billion, reaching a new high. Of this inflow, 97% went directly into Bitcoin, with almost all of the remaining small amount flowing into Ethereum. What can we infer from this data? The message from institutions is very clear—Bitcoin is currently the most favored asset.

What does this mean? In the short term, the main driver of the rally is likely to be Bitcoin leading the charge. Ethereum and other mainstream coins are more likely to follow suit.

However, looking at capital flows alone is not enough. Let’s see what the whales holding large positions are holding:

**Artificial Intelligence Sector**—TAO, PAAL, FET, XNA are all on the list.

**Rendering + Storage**—RNDR is also receiving attention.

**Public Chains and Layer1**—holders of INJ, KAS, AZERO, ROSE are quite numerous.

**DeFi and Interoperability**—KUJI, QNT, CHNG are all actively positioned.

**New Sector Exploration**—whales are also making small-scale moves into RWA attributes of RIO, the underlying technology positioning of TRIAS, and GambleFi directions of RLB.

From the choices made by institutions, the market focus in 2026 may still revolve around AI, public chain ecosystems, and interoperability protocols. Bitcoin’s strong position is unlikely to be shaken in the short term, but don’t overlook the medium- and long-term opportunities quietly accumulated by whales.