Bitcoin (BTC) has staged a solid comeback 💪, pushing back above the $76,000 mark—even with the ongoing tensions between the US and Iran 🌍⚠️.
Still, despite growing optimism after BTC bounced from around $74,000 📈, market maker Wintermute cautions that it’s too soon to call this a true rally.
According to the firm, Bitcoin managed to absorb the initial wave of selling pressure, but that doesn’t necessarily mean the trend has fully flipped yet 🔄.
In their latest weekly report 📝, Wintermute analysts highlighted that while BTC has shown resilience during the recent downturn, confirming a clear trend reversal at this stage would be premature.
One key point they emphasized is Bitcoin’s relative strength compared to other assets 🥇. This appears to be driven by lower selling pressure and steady inflows from institutional investors 🏦.
The overall market structure is starting to look more constructive than it did in recent months, supported by several positive signals 🚀—including a rebound in the Coinbase Premium Index, rising ETF inflows, and increased OTC buying activity from institutions.
Interestingly, institutional demand seems heavily concentrated around the $60,000 level 🎯, while retail investors are still taking a more cautious “wait and see” approach 👀.
Is Bitcoin already in a bull run? 🤔
Not quite—at least according to Wintermute.
The firm stresses that it’s still difficult to label the current market as a full bull cycle 🐂, suggesting investors should remain cautious for now.
They also point out that the $74,000 and $80,000 levels could act as strong resistance zones ahead 🚧.
From a broader cycle perspective ⏳, previous bear markets typically lasted around 400 days from peak to bottom. In contrast, the current cycle seems to have bottomed in under 200 days—much faster than usual.
Because of that, Wintermute believes this downturn could end up being shorter and less severe than past cycles ⚡. #bitcoin #BTC
