Wu Blockchain (@WuBlockchain): Wintermute: Crypto Market Looks More Like Late-Stage Bear Market
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Wintermute: Crypto Market Looks More Like Late-Stage Bear Market Wintermute said in its latest report that the crypto selloff was driven by the fading AI trade, Nasdaq weakness, a stronger dollar and higher-for-longer rate expectations. BTC fell 5.9% this week, briefly breaking below $60,000 and touching its 200-week moving average, while ETH dropped 7.9%. Wintermute said sentiment and on-chain data show capitulation is underway, but ETF outflows and weak treasury/stablecoin buying suggest the market has not yet confirmed a bottom. The report also warned that new liquidity may flow into AI equities before crypto, while Strategy's new BTC monetization framework shows the "permanent bid" from treasury companies is becoming conditional.