What will the crypto market look like in 2026? Rather than a bull run, it's more like an institutional bull.

From the data, ETFs have attracted over 600 million in early 2026, and the RWA track has surged into the trillion-yuan level. This growth rate is indeed impressive. But the problem is, don’t be fooled by these numbers— the logic of institutional entry is completely different from retail investors.

The four-year halving cycle theory has already become invalid. What are institutions focusing on now? Cash flow. They are not interested in pure concept coins but in assets with real applications and revenue generation. Utility tokens and compliant projects are what institutions prefer. As for those purely hype-driven MEME coins? The risk is too high; they are not suitable for institutional funds.

In this stage where regulatory frameworks are gradually becoming clearer, stablecoins have become the main settlement method in the market. Want to buy the dip? The smart approach is to use idle funds to make phased deployments, lay out in advance, and then take profits in stages. Don’t go all-in, and don’t expect to get rich overnight.

The characteristic of this market cycle is increased stability, but it also means that the space for explosive profits has been compressed. Institutions are eating the big pieces, and retail investors can be satisfied with some soup.