Wintermute: Institutions Are Realizing Some BTC Profits, 75,000 Remains a Key Support Level
Foresight News reported that Wintermute stated in an article that BTC has experienced over $1 billion in ETF outflows for two consecutive weeks (inflow was seen in the previous six weeks), indicating that institutions are taking advantage of recent gains to realize profits. What's even more noteworthy is AI. Nvidia delivered a textbook-level, better-than-expected performance, but there was almost no movement after hours. Outperforming expectations no longer moves the needle. If AI momentum fades, the macro picture (record-low consumer confidence, sticky inflation, JPMorgan taking over a hawkish Federal Reserve) will carry more weight, and cryptocurrencies will not be immune.
BTC’s long-term structure remains intact (reserves are at multi-year lows, long-term holders are continually accumulating, CLARITY is progressing, and HYPE is doing what major tokens should do in the early stage). However, short-term capital flows are driving prices, and currently, the trend is negative. $75,000 to $76,000 is a critical zone for BTC; holding this level will see BTC make another move toward $80,000, but if it breaks below this range, it could quickly slide to $70,000 to $72,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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