#机构投资者进入加密市场 When I saw this news, I thought back to that wave in 2017. At that time, various influencers kept calling for buy-ins, each prediction more outrageous than the last. Saylor said institutional influx would push prices higher, which sounded perfectly reasonable back then—yet the gap between expectations and reality is often just one cycle apart.

Arthur Hayes changed his forecast from $200,000 to "quite bad," Tom Lee cut his target from $250,000 to $100,000, and Saylor shifted from steady growth to a "target" of $150,000. This isn't because they’ve become foolish; it's because the market is more complex than any prediction. The logic of institutional investors entering the market isn't wrong in itself, but the pace, scale, and holding cycles of their entry are not linear.

I've experienced several cycles: the frenzy of 2013, the crash of 2017, the rebound of 2021—each time, influencers' predictions were extrapolated from the market sentiment at that moment. But markets have memory and turning points. Institutions have indeed entered, but they’re not here to push prices higher immediately; they’re building positions, hedging, and waiting. The FOMO of retail investors and the patience of institutions are always out of sync.

Looking at this point in the year-end, divergent expectations are a signal in themselves. When no one can give a definitive answer, it indicates the market is at a critical turning point. The next move depends on your understanding of the true intentions of institutions, not just what they say.