Recently, the ORDI token has attracted a lot of attention from investors, and some even expect it to set a new historical high. However, this expectation may be overly optimistic.

Although there may be some profits from short-term swing trading around ORDI, many investors have built up large positions based on the logic that 'the development of the Bitcoin ecosystem will inevitably drive up ORDI'. This idea overlooks a key market principle: institutional funds usually do not easily provide profit opportunities for retail investors.

It is worth noting that ORDI has previously locked a large amount of chips. The main funds have worked hard to complete the chip distribution, making it unlikely to pull up the market again to help retail investors break even. Even if they want to layout in the Bitcoin ecosystem, the funds are more likely to avoid ORDI and choose other tokens with more concentrated chips and less resistance to rising.

This phenomenon has also appeared in other popular sectors. For example, during the boom in the artificial intelligence sector, although WLD was in a hot track, its price performance was poor due to the over-dispersed chips and the lack of major funds willing to lead the market.

For investors, understanding the market operation mechanisms and the logic of capital movement is crucial. One should not blindly follow the trend or hold overly high expectations for a single Token. Instead, a comprehensive analysis of market trends should be conducted, focusing on projects with concentrated chip distribution, real application scenarios, and development potential. At the same time, one should also be wary of the risks brought by market fluctuations, diversify investments appropriately, and maintain rational judgment.