The current funding structure of the cryptocurrency market is actually very simple. The foundation is Bitcoin, which is the market's barometer. The middle layer is Ethereum, a high-risk version of Bitcoin, and the top layer consists of altcoins, which carry the highest risk and are most easily abandoned.

When Bitcoin declines, institutions will definitely first cut altcoins, then Ethereum, and only then will they touch Bitcoin itself. So the overall market dynamics become that as long as Bitcoin drops a little, Ethereum drops more, and ecosystem coins split directly.

This is not a coincidence; it is determined by the ecological niche of the entire market at present.