Bitcoin has recently risen to a few weeks, boosting the encryption market. However, as a marketer, Wintermute remained cautious about the round ' s increase, considering that the current trend was closer to short-term repair, not enough to suggest a deeper reversal in the market.
It's about 10% a week.
Over the past week, bitcoin has risen by almost 10%. On Monday, when $6.45 million was broken, it reached a two-week high and then fell back to the vicinity of $64,000.
In its latest market update, Wintermute indicated that the recent price recovery could be explained by several known factors, including the US-based Bitcoin ETF capital flow back to the warm, macro-environmental marginality, and the Fed’s stated laxity.
ETF funds converted into inflows
The Agency considers that the change in the flow of FET funds is one of the important underpinnings of the recent rebound in the market. On 2 July, the United States spot in bitcoin ETF ended 10 trading days and net inflows exceeded $222 million on that day.
According to Farside Investers, more than $265 million in net inflows were recorded on Monday for related products. Two consecutive days of reflows have eased previous market concerns about the withdrawal of funds and also supported Bitcoin prices.
It still needs to be observed.
However, Wintermute argues that a single or brief return of funds is not sufficient to prove that the market has reversed. To judge whether there is a more stable trend, it is still necessary to see that ETF funds remain inflow over successive trading days.
The agency indicated that while the market shorts may still continue to be high, at this stage it is more appropriate to view the round as an emotional and liquidity-driven rebound rather than a structural shift that has been identified.