Anselm stated that institutional funds are turning to bullish cryptocurrency markets, including Stanley Druckenmiller's purchase of HYPE, Robinhood's launch of its own L2, and Paul Tudor Jones' increase in Bitcoin positions. Anselm pointed out that the regulatory environment in the cryptocurrency industry is improving, and native cryptocurrency investors still generally maintain a bearish and pessimistic sentiment. The combination of institutional funds turning bullish, improved regulatory environment, and extremely pessimistic internal market sentiment constitutes the conditions for the formation of a bottom in the market.