#区块链生态发展 Seeing Cathie Wood's latest insights, I was reminded of recent conversations with several investors. Many have lost their footing amid volatility, but a detail she mentioned is particularly worth pondering — Bitcoin tends to have the strongest liquidity during flash crashes. This is not a coincidence but a reflection of institutional allocation logic.

This reminds me of a principle I often share with friends: true safety often comes from understanding the essence of assets, rather than blindly chasing hot trends. Cathie Wood emphasizes that Bitcoin is the preferred entry point for institutions into the crypto space, and the logic behind this is quite clear — it represents a whole new asset class and system, not just a speculative target. In comparison, Ethereum as infrastructure and Solana as a consumer ecosystem each have different risk characteristics.

What I find most noteworthy is her mention of allocation proportions — approximately 12%-13% of crypto-related assets. Why is this ratio important? Because it reflects the restraint of a mature investor. No matter how hot the market, position management is always the first line of defense.

Whether traditional financial institutions will officially introduce exposure through ETFs is indeed a potential variable in the next phase. But what I want to say is, regardless of how the market develops, you need to ask yourself three questions first: What proportion does this asset occupy in my overall portfolio? How much volatility can I withstand? What is my holding logic? When the answers are clear, your mindset will stabilize. In the long run, decisions made out of fear during rapid fluctuations are often the most costly.