The recent developments in the crypto world can be summed up in one sentence: some are cheering loudly, while others are breaking out in cold sweats.

Let's start with the most eye-catching event: the world's largest asset management company, BlackRock, is getting serious. They bought approximately $287 million worth of Bitcoin in one go—this is no small move. Managing a monstrous $9 trillion in assets, they shifted from cautious observation to direct participation. How big is this signal? The traditional financial system's attitude toward Bitcoin is shifting from "reserved" to "officially allocating."

But at the same time, another story is unfolding—Strategy, a giant holding nearly $60 billion in Bitcoin, is feeling a bit stunned by the market. Bitcoin's quarterly drop of 24% could mean losses of billions of dollars for them. Even more painfully, the company's market value is almost falling below the value of its Bitcoin holdings. The market's biggest concern now is whether they will be forced to sell to save themselves—hundreds of billions of dollars worth of Bitcoin suddenly flooding the market, and just thinking about it is frightening.

These two pieces of news hitting at the same time have torn market sentiment apart. On one side, institutional giants are bullish on Bitcoin's future and are investing real money; on the other side, the holding giant might trigger a "selling bomb" at any moment.

Who should you follow? Buy the dip with BlackRock, or avoid Strategy's landmine? There’s no definitive answer. Ultimately, it all depends on your own judgment of the market rhythm.