This night, Moments is buzzing again. But what I want to talk about is what happened over these three days.
Right before the National Day holiday, the market was full of voices saying, “Retail investors have run off, demand has gone dead, and there’s nobody left to take the bag.” At the time, I dug into the data—yes, retail was indeed leaving. The 30-day demand turned from positive 17% to negative, and it never stopped.
But during the same period, the money actually didn’t leave. In September, spot Bitcoin ETFs saw net inflows of 2.65 billion yuan. BlackRock’s family of products alone booked 195 million just on October 1. Morgan Stanley’s holdings quietly broke past 10,000 coins, and Strategy kept buying one after another. Coinbase and Strategy—these crypto stocks—are up about 5% today following the move.
You see: with the same 83,000, retail is pushing outward while institutions are moving inward. Once a piece of U.S. data loosens and a bit of news leaks out, Bitcoin rebounds overnight back to 87,000—those who exited early then have to come back to pick up the goods at a higher level.
What’s interesting about this business is right here: the noisy chatter always goes in the opposite direction from the real money.
A couple of days ago I wrote a line, and today it’s still the same—follow the funds, not the noise.
When everyone starts shouting “bull market” again, you should instead lower your head and check your own position: can you still hold it, and can you still see clearly?
Don’t chase this one spike, and don’t panic over these two days. The real patience is knowing what you’re waiting for when nobody’s watching.
Right before the National Day holiday, the market was full of voices saying, “Retail investors have run off, demand has gone dead, and there’s nobody left to take the bag.” At the time, I dug into the data—yes, retail was indeed leaving. The 30-day demand turned from positive 17% to negative, and it never stopped.
But during the same period, the money actually didn’t leave. In September, spot Bitcoin ETFs saw net inflows of 2.65 billion yuan. BlackRock’s family of products alone booked 195 million just on October 1. Morgan Stanley’s holdings quietly broke past 10,000 coins, and Strategy kept buying one after another. Coinbase and Strategy—these crypto stocks—are up about 5% today following the move.
You see: with the same 83,000, retail is pushing outward while institutions are moving inward. Once a piece of U.S. data loosens and a bit of news leaks out, Bitcoin rebounds overnight back to 87,000—those who exited early then have to come back to pick up the goods at a higher level.
What’s interesting about this business is right here: the noisy chatter always goes in the opposite direction from the real money.
A couple of days ago I wrote a line, and today it’s still the same—follow the funds, not the noise.
When everyone starts shouting “bull market” again, you should instead lower your head and check your own position: can you still hold it, and can you still see clearly?
Don’t chase this one spike, and don’t panic over these two days. The real patience is knowing what you’re waiting for when nobody’s watching.