The performance in the first two trading days of the year has already sent a clear signal: institutional capital is gradually returning. US spot fund products have seen a substantial net inflow, what does this reflect? The adjustment has been deep enough, and prices are starting to become attractive. After this round of decline, overvalued positions have been re-priced, and traditional financial institutions are beginning to reassess the overall asset allocation value. The attractiveness at low levels is not only due to the price itself but also the shift in sentiment—the market is gradually recovering from extreme pessimism. The influx of funds combined with the emotional recovery are usually the standard indicators of market initiation. From an allocation perspective, institutional investors, after a period of wait-and-see, are now gradually building positions. This shift from passive selling to active positioning often signals that the market psychology cycle has reached a turning point.