According to the marketer Wintermute, after the Federal Reserve maintained interest rates and negotiations between the United States and Iran slowed, the encrypted market completed a round of risk pricing ahead of the US share. As the encryption market continues to trade on weekends, while the United States share is off the market for vacations, geo-information on weekends is the first to reflect on assets such as bitcoin.

The Fed has turned to caution.

In a market update on 22 June Wintermute stated that although the Federal Reserve maintained the target interest rate range at between 3.50 and 3.75 per cent, there had been a change in policy formulation. According to the Agency, the statement was shorter, the previous guidelines of laxity were weakened and the market's concerns about inflation were rising again.

Against this background, the attitude of traders towards highly mobile encrypted assets such as TTcos and Taifung has shifted to caution. Wintermute argues that even the fall in oil prices has failed to address market concerns about broader inflationary pressures.

Bitcoin pre-monetized weekend shock.

Wintermute claims that bitcoin was close to $67,000 in the week and then went back to $60,000. According to its figures, the BTC fell 3.8 per cent that day, ETH fell 1.2 per cent, and most of the Yamaya currency was roughly even.

The agency described the fall as another lever. Multiple losses were significantly higher than empty, indicating that the previous market was more focused on the rebound. Wintermute also mentioned that the ETA once again lost the 2000 dollar line and then went back to the central 1700 dollar zone, sending weaker price signals.

According to crypto.news, Bitcoin fell to about $62560 on the 23 June disk and stabilized in the vicinity of $62,800. During the same period, the spot bitcoin ETF recorded a net outflow of $68 million.

  • The lower point on the bitcoin is about $62560.
  • Present bitcoin ETF single-day net outflow $68 million
  • The June low point is about $59,200.

Strategy continues to buy but has insufficient incremental demand

According to Wintermute, Strategy continues to buy bitcoin, and short-lines ease the market ' s concerns about its possible passive sales. Previously, the market had been concerned about the sale of 32 BTCs, followed by the purchase of 1587 BTCs in the amount of about $100 million. Crypto.news also mentioned that Strategy had since held 520 BTCs and retained higher cash reserves.

However, this has not changed the overall weakness of demand. Wintermute states that whether the ETF financial flows or the purchases of Strategy are strong, the new demand for the market has been weaker than in previous phases. While some leverage has been cleaned up, new purchases are not strong enough.

Market shift towards PCE and Middle East negotiations

Wintermute states that the next market will focus on US-led PCE inflation data in May, and whether Qatar-led negotiations will contribute to the expected upturn in the regional ceasefire. If inflation data are soft, risk asset pressure may be eased; if data are strong, the market's bet on further tightening of policies may continue.

It also cautioned that the short-line rebound did not mean that the fall had ended. The current movement of bitcoin is still closely linked to the Fed’s pricing, the ETF financial flows and the next round of US-Iran negotiations.