#ETF与衍生品 Seeing the combination of BTC, ETH, and SOL proposed by Wood, I have to say—don't be blinded by institutional endorsements.

What can we learn from the flash crash on 1011? BTC has the strongest liquidity but was the first to be hammered down, with other coins falling even more. This is no coincidence. During every crisis, institutions are the first to run, retail investors are the ones taking the hit. Now, with headlines about Morgan Stanley and Bank of America entering via ETFs, this information alone should raise suspicion—if they were truly coming, would they need to announce it so broadly in advance?

I've seen too many projects that initially had big institutions backing them and influencers endorsing them, then? Once derivatives markets open, short-selling mechanisms become tools for harvesting. ETFs can indeed bring in incremental funds, but at the same time, they make targeted attacks on the underlying assets possible. Thinking you're safe within ETFs is a misconception; those complex derivative contracts are setting traps in the shadows.

To survive longer, remember this: don't blindly trust the "optimism" of institutions. Instead, watch where they build positions and when they reduce them. Bottoms are not confirmed because some big shot says so, but because the chips have already changed hands. When ETFs are truly unleashed and market sentiment is at its peak, those who enter then are basically just taking the fall.

Stay vigilant, never stop being cautious.