Analysts believe that this round of adjustment is a normal profit-taking and risk management following the large-scale institutional entry in 2025. The cautious actions of university endowment funds like Harvard may also be related to overall asset rebalancing and management changes. Overall, institutional attitudes toward crypto assets have shifted from enthusiastic experimentation in 2025 to "selective holding" in 2026. The future direction of the crypto market still depends on macroeconomic conditions, regulatory developments, and the effects of the Bitcoin halving cycle. Changes in institutional holdings will continue to serve as an important market indicator.