Is ETH being bought up by institutions to become a "rare Moutai"? Retail investors suddenly realize they can't compete anymore

What does ETH resemble more and more lately?
Like discounted eggs being fiercely snatched up by aunties in the supermarket.
Just as you’re about to buy,
the shelves are already empty.
As BitMine continues to sweep up, the market begins to revisit a dangerous issue:
Will ETH enter a "liquidity shortage era"?
Many people used to think:
ETH supply is almost infinitely "abundant".
But the real situation is:
ETF lock-up,
staking lock-up,
DeFi lock-up,
institutional treasury lock-up.
The ETH that can actually circulate is becoming fewer and fewer.
So now a strange situation has formed:
Retail investors feel ETH hasn't risen much,
but institutions are hoarding madly.
Why?
Because they are betting on the future.
If on-chain finance continues to expand,
ETH might not just be a coin.
It could be "the fuel tax of the digital world".
Whoever holds ETH,
is equivalent to holding the right to charge on-chain future economy fees.
That’s why Tom Lee’s statement about "approaching 5% supply target" triggers market nerves.
Because this means:
Capital is seriously studying "controlling the circulating supply".
And in the past, this kind of play only appeared in the gold, oil, and silver markets.
Now ETH is starting to show this flavor too.
The funniest part is:
Many retail investors are still waiting for "ETH to dip before buying".
But institutions don’t play fair at all.
They buy on dips.
In the past, everyone worried ETH would have no demand.
Now they’re starting to worry:
"Will there still be cheap ETH in the future?"
But there’s another side to the story.
As chips become more concentrated,
market volatility will become more intense.
It’s easier to squeeze the shorts during an uptrend,
and a stampede can happen during a downtrend.
Because the less circulating volume,
the easier the price is to be driven by big funds.
That’s also why recent ETH price spikes have become more and more outrageous.
You might think it’s technical analysis,
but it could just be a whale turning over.
So in the future, ETH markets might look more and more like:
"a war between institutions."
And the biggest task for retail investors might not be predicting the trend,
but not getting shaken out.