最新报道：According to CoinWorld.com, Arca's Chief Investment Officer, Jeff Dorman, posted an article this morning calling this round of crashes "the most bizarre cryptocurrency sell-off in history." The market clearly had many positive factors – the Federal Reserve's interest rate cuts, the impending end of quantitative tightening, strong consumer spending, record corporate profits, and continued strong demand for artificial intelligence, etc., with stock, credit, and gold and silver markets hitting record highs every month; at the same time, all the so-called reasons for the cryptocurrency sell-off were untenable – MSTR did not sell off, Tether was not insolvent, DAT did not reduce its holdings, Nvidia did not have a crisis, the Federal Reserve did not turn hawkish, and the tariff war did not restart. Jeff stated, “I still don’t understand why cryptocurrencies keep falling. The reason may be simple: despite technological advancements and positive developments in Washington policy and Wall Street, nothing can change the fact that there is a lack of buying power within the current cryptocurrency ecosystem. Native crypto investors are exhausted, and new funds are failing to enter the market. Although investors are forward-thinking, they are not easily changing their investment processes – therefore, although institutions such as Vanguard, State Street, BNY Mellon, JPMorgan Chase, Morgan Stanley, and Goldman Sachs are about to enter, they are not yet in place. Until these institutions can easily allocate crypto assets through their existing authorization systems and investment processes, the flood of funds will not truly arrive.”