Recently, the Bitcoin market has become quite interesting—institutions are increasing their holdings, but the market's temperament has become more volatile.

Let's first look at the movement of major funds. MicroStrategy (now renamed Strategy) invested $1.25 billion this week to buy the dip in Bitcoin, purchasing 13,627 coins in one go, bringing their total holdings to 687,410 coins. This move clearly indicates that genuine institutional investors still have confidence in the long-term prospects. After all, such a large amount of money being poured in demonstrates strong conviction.

From a policy perspective, the tone is also shifting. South Korea announced plans to launch a spot Bitcoin ETF in 2026, while the U.S. government has taken proactive steps to protect Bitcoin developers. These signals suggest that regulation is moving from containment to acceptance, and the market's maturity is indeed advancing. Coupled with news that the U.S. Department of Justice is investigating the Federal Reserve, Bitcoin once surged to $92,000, with investors' willingness to treat it as a safe-haven asset growing stronger.

The problem is, it seems like there are too many good news stories. Last week, Bitcoin-focused investment products experienced a net outflow of $405 million, and the entire crypto market saw a capital outflow of $521 million during the same period. Even more painfully, technical indicators are signaling caution—MACD just crossed below the signal line, accompanied by a negative histogram, which is a short-term warning sign for bullish momentum. The $92,000 level was not held, while gold and silver are rebounding strongly, indicating that some funds have quietly shifted toward more traditional safe-haven assets.

So, the current situation is: institutions are increasing their long-term holdings, but short-term funds are fleeing, and market opinions are divided. At such times, investors need to clearly identify the trend and also be vigilant about risks.