This cycle, the power of retail investors can no longer be ignored. Many friends think that if institutions don’t step in, it might be hard to drive prices up, but looking at the U.S. stock market, it’s actually the complete opposite. I’ve reviewed a lot of data, and it turns out institutions are just starting to build positions, while hedge funds have spent a lot of time selling and shorting. Only retail investors have been relentlessly buying and recharging for the past 22 months. And retail investors are mainly buying ETFs. So based on the actual data, even though there have already been two instances this year where the VIX exceeded 25 (panic) and one instance where the VIX exceeded 60 (extreme panic), retail investors have continued to buy persistently, especially buying more as prices drop. This time, it’s almost entirely retail investors. Bitget VIP, lower fees, crazier perks.