The premium indicator of a certain compliant platform has suddenly turned red recently—this isn’t just a simple technical correction, but a message to the market: institutional funds are truly coming back.

How can you tell? Just watch the premium data. During the crash in November, this indicator turned so green it was almost black, clearly signaling that the big players in the US were retreating. But when BTC dropped to the $85,000 to $90,000 bottom, the data suddenly turned positive—“Sorry everyone, we’re back to scoop up assets.”

Three major forces are simultaneously making moves behind the scenes: Vanguard suddenly opened the door, allowing 50 million conservative investors to access Bitcoin ETFs for the first time; Charles Schwab’s $12 trillion asset pool will fully open the channel in 2026; over in Japan, ETFs are also on the way, with a combination of investment trusts and pension funds ready to pour in $3 to $10 billion at any moment.

In other words, institutions didn’t just leave—they’re scrambling for front-row seats for 2026. Bitcoin’s positioning has changed—from a “speculative target” to a “regular option in global asset allocation.” That premium data turning positive is saying: “Don’t worry, folks, we’re already on board.”

Now look at the funding rate as a secondary signal: the November plunge sent the rate negative, with shorts celebrating wildly; but when the price dropped near $86,000 in December, the rate stubbornly held positive—longs may have taken a hit, but they clearly didn’t back down. As soon as the market...