Thoughts on Positioning Strategies Amid the Recent Market Pullback
BTC briefly broke above $87k before fluctuating around $82k, while ETH hovered in the $2,600-$2,700 range. Rather than viewing this pullback as a trend reversal, it is better understood as normal consolidation after a sustained rally. On the macro front, the 10-year U.S. Treasury yield reached its highest level since 2007, Brent crude approached $107 per barrel, and the escalation of the U.S.-Iran military standoff dampened risk appetite. Funds shifted toward safe-haven assets in the short term, causing BTC to retreat from its highs.
Regarding my plan to add to my position, I made a dollar-cost-averaging purchase when BTC fell to around $83k, accounting for approximately 15% of my planned position. Public companies recorded $239 million in net purchases over the previous week, up 30.4% week-on-week, while institutions such as Strategy continued accumulating at an average price of approximately $79,670. This has given me fairly strong confidence that the area around $80k can provide medium-term support. U.S. spot Bitcoin ETFs have recorded net inflows for six consecutive trading days, attracting more than $2.8 billion in total, with overall ETF flows remaining solid.
Regarding positioning, I favor major coins such as BTC and ETH. The core rationale is that capital rotation is narrowing. Wintermute data shows that institutions accounted for 72% of spot volume in the first half of 2026, up from 61% in the second half of 2025. JPMorgan pointed out that spot Bitcoin ETFs have recovered approximately two-thirds of their previous outflows, while Ethereum has recovered only about one-third, clearly indicating that funds are “concentrating in Bitcoin.” Altcoins face structural difficulties, including insufficient liquidity, slowing DeFi activity, and frequent hacker attacks, and restoring trust will take time.
VanEck recommends building a 1%-3% Bitcoin allocation through a dollar-cost-averaging strategy, with the pullback potentially narrowing from 80% in the previous cycle to 40%. Tom Lee views the pullback as a buying opportunity, believing that Bitcoin remains “digital gold,” while Ethereum is the core infrastructure for blockchain applications.
The short-term upside potential of altcoins is indeed tempting, but in an environment of tightening liquidity, the cost of making the wrong directional call is also magnified. Rather than chasing rotations that are difficult to capture, it is better to maintain position discipline in major assets and wait for the market narrative to find its anchor again. #每周来晒 $ETH _$XRP