Wu Blockchain (@WuBlockchain): Wintermute reported that Bitcoin has erased all gains since Trump’s November 2024 election. Weekend liquidations exceeded $2.7 billion, with BTC brief…
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Wintermute reported that Bitcoin has erased all gains since Trump’s November 2024 election. Weekend liquidations exceeded $2.7 billion, with BTC briefly falling below $80,000 and dipping to $60k—the lowest since April 2025. The decline was driven mainly by U.S. capital, with negative Coinbase premiums and spot ETFs seeing a cumulative $6.2 billion outflow since November. IBIT was both the largest holder and a key supply source. Crypto assets show bearish skew, while AI-themed investments continue to draw funds. A sustained rebound is unlikely unless Coinbase premiums turn positive, ETF flows return, and the basis stabilizes. https://x.com/wintermute_t/status/2021152048931361170