The market has been quite interesting these days, not just a simple rise and fall in prices, but rather a clear rhythm of 'changes in funding structure' is emerging. The latest on-chain and asset flow data show that Bitcoin, Ethereum, Solana, and XRP are being quietly purchased by institutions. This is not hype-driven speculation, but rather a feeling in the market that 'everyone is quietly bottoming out'.

On-chain analysis institutions pointed out that, based on the current ETF flow, the net inflow of these mainstream large coins has reached a relative high since October 2025. In other words: large funds are quietly accumulating behind the scenes of low volatility, rather than rushing in when the market skyrockets.

In particular, XRP is currently seeing very prominent spot ETF inflows, which is different from the typical retail sentiment response. Many institutions are positioning ahead of time when volatility is low and retail sentiment is still hesitant, and this kind of 'quiet accumulation' is often a prelude to a real market breakout in history.

Another noteworthy point is that what everyone is buying is not a single asset but multiple main chains, including BTC, ETH, SOL, and XRP — the tendency has become increasingly clear from only betting on Bitcoin to a more diversified layout. This diversity in capital allocation also reflects a more mature and long-term thinking by large funds.

Of course, market volatility will come sooner or later, but this time it's different from past short-term emotion-driven fluctuations. It’s more of a signal of structural capital re-entering the market and a warming rhythm of risk asset diversification, rather than simply 'prices being driven up'.

In other words, when institutions no longer just revolve around BTC but also embrace ETH, SOL, and XRP, it often means that market expectations are shifting from 'waiting for news' to 're-pricing'. #加密市场观察 #美国贸易逆差