On January 16th, the crypto spot market experienced a major fund shift. According to the latest data, the fund flow over the past 24 hours is quite clear — mainstream coins are losing blood, while smaller coins are attracting capital.

BTC and ETH are the primary targets of capital outflow. ETH saw a net outflow of $182 million, with BTC following closely behind with a $163 million outflow. Even established coins like XRP were not spared, with $41.41 million being sold off. The simultaneous decline of the three major cryptocurrencies indicates a very clear market attitude — wait and see. Investors seem to be waiting at this point, for policy signals or a turnaround in fundamentals.

Interestingly, at this very moment, AIN and TRX are defying the trend. AIN attracted $9.13 million in funds, TRX also gained $7.83 million, and even wBTC experienced a net inflow of $3.56 million. This is no coincidence.

This market divergence reflects an old rule — when the major assets lack obvious value, funds will seek more flexible targets. Some small and medium coins may have recent positive news, some may have rising community enthusiasm. In short, capital is searching for the next opportunity.

In the short term, such changes in fund flow act like a barometer of the market, reflecting investors’ true sentiment. The outflow from mainstream coins indicates the market is still not confident enough, while the inflow into small and medium coins suggests the market hasn't completely lost enthusiasm — it’s just shifting chips to higher-risk, higher-reward areas.

For ordinary investors, this phenomenon contains both opportunities and risks. Capital tends to flow into the most volatile areas, where gains and risks are always twin brothers.