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.