The recent market trend has indeed been crazy, with a wave of hot coins being repeatedly pumped by smart money. Those so-called dark horses and new concept tokens come and go quickly in terms of popularity.

The key point is that smart funds have already begun to quietly withdraw. On-chain data shows that the mainstream coins in this wave of hotspots are being gradually liquidated by large holders, and then these funds are shifting towards projects like Chinese Bitcoin. It seems they are waiting for the next opportunity to arrive.

Interestingly, the performance of Chinese Bitcoin during this period has surpassed the gains of $BTC in English, attracting quite a bit of attention. This phenomenon is not uncommon in the market—when major cryptocurrencies are stable, niche coins tend to run independently.

In any case, following the footsteps of smart money is never wrong. Capital flows often tell more than candlestick charts.