[Dragonfly Partner: Retail Investors Have Largely Exited the Current Market, Institutions Form the Market Bottom and Support Bitcoin] On May 2, Dragonfly partner Haseeb Qureshi stated that retail investors have largely exited the current market, with institutions forming the market bottom and supporting Bitcoin. Bitcoin is regarded as a mature asset with sustained growth potential over the next 15–20 years, while altcoins need clear narratives to attract retail investors. The core of crypto lies in money and finance, with areas like DeFi, stablecoins, exchanges, and RWA demonstrating strong stickiness. The involvement of AI will enable intermediary transactions through intelligent agents, significantly boosting adoption. Low-risk preference users are expected to become the mainstream entry point, and savings-oriented assets along with passive investments are likely to see explosive growth on-chain.