Wintermute warns that Bitcoin has not yet established a durable market bottom, citing a critical absence of institutional demand and continued outflows from spot Bitcoin ETFs. This assessment suggests that despite recent price movements, the necessary capital inflows to confirm a sustained recovery are missing. The report highlights that the market currently lacks the foundational buying pressure needed to absorb potential sell-side liquidity. Investors should monitor ETF flow reversals and institutional commitment to gauge future market direction, as current conditions indicate a fragile price structure.
Wintermute's warning underscores that institutional capital is not yet flowing into Bitcoin, despite the ETF approvals. Sustained ETF outflows signal a lack of conviction, posing a significant headwind for BTC price appreciation and broader crypto market sentiment.
This story reveals the market's reliance on institutional capital for sustained rallies, highlighting that retail interest alone is insufficient. The current structure indicates a lack of conviction from major players, implying continued volatility and potential for further price consolidation.
Bitcoin’s recent selloff has yet to establish a durable market bottom as institutional demand remains absent and capital continues to leave spot Bitcoin ETFs, according to a new market note from Wintermute. According to data from crypto.news, Bitcoin (BTC) traded…