Recently, I studied some on-chain data of Ethereum and couldn't help but sigh at the harsh reality of the crypto assets market. In this market dominated by Wall Street capital, the situation for retail investors is quite difficult. Even large investors with assets worth tens of millions find it hard to compete against the financial power of Wall Street.

Looking back at the surge when ETH price broke through $4200, the combined $300 million short position put in by several large investors had almost no impact on the market. The upward momentum of the price did not diminish at all, causing some investors to have no choice but to cut losses in just 15 minutes, losing millions of dollars.

The characteristic of this bull market is that Wall Street seems to have successfully concentrated the funds of the crypto market into the two major mainstream coins, Bitcoin and Ethereum. Unlike previous bull markets, the performance of small-cap cryptocurrencies has generally been weak in this round. This phenomenon is not due to a lack of funds in the entire crypto market, but rather Wall Street's successful guidance of funds into a few large cryptocurrencies through long-term strategies.

Wall Street's understanding of retail investor psychology can be described as superb. They have utilized this insight to gradually guide market capital flows over the past two years, ultimately achieving the current market landscape. This strategy not only reflects Wall Street's financial strength but also showcases its profound understanding and control over the market.

For retail investors, this market environment undoubtedly increases the difficulty of investing. In a market dominated by Wall Street, small investors need to be more cautious and deeply understand market trends in order to find opportunities in this game of capital.