TechFlame reports that Jeff Dorman, Chief Investment Officer of Arca, described this round of plummeting as "the strangest cryptocurrency sell-off in history" in a post this morning. The market is clearly filled with many positive factors — the Federal Reserve cutting interest rates, quantitative tightening coming to an end, strong consumer spending, record corporate earnings, sustained high demand for artificial intelligence, etc., with stocks, credit, and gold and silver markets hitting new historical highs every month. At the same time, all the so-called reasons for the cryptocurrency sell-off are also untenable — MSTR did not sell off, Tether is not insolvent, DAT did not reduce holdings, NVIDIA did not crash, the Federal Reserve did not turn hawkish, and the tariff war did not resume. Jeff stated: "I still don’t understand why cryptocurrencies keep falling. The reason may be simple: despite technological advancements and positive developments in Washington policies and Wall Street trends, none of this can change the fact that there is currently a lack of buying interest within the cryptocurrency ecosystem. Native crypto investors are exhausted, and new funds have not entered the market. Although investors are forward-looking, they will not easily change their investment processes — so even though institutions like Vanguard, State Street, BNY Mellon, JPMorgan Chase, Morgan Stanley, and Goldman Sachs are poised to enter, they are not yet in place today. Until these institutions can conveniently allocate crypto assets through existing authorization systems and investment processes, the flood of funds will not truly arrive."