Wintermute: Lack of funding support in the cryptocurrency market, cautious attitude towards Bitcoin and altcoins in the short term

Wintermute stated that the US stock market is supported by corporate profits, while the cryptocurrency market relies on new funds. With a net outflow of $679 million from the US spot Bitcoin ETF and $542 million from the Ethereum ETF last week, the upward trend of cryptocurrency assets is difficult to sustain. Bitcoin fell from $86000 to $87000 last week, briefly dropping to $80400 before rebounding above $83000 and reaching a high point in the $82500 range. Before the yield of long-term treasury bond bonds stabilized and spot ETF funds turned into net inflow, Wintermute was cautious about the crypto market and did not recommend chasing up low-quality counterfeit currencies.