Wintermute: The increase in TTco is more a mitigating rebound than a new round of cattle

Wintermute published a market analysis that the weak employment data in the United States and the US Federal Reserve official Walshy ' s prowess pushed the global risk asset rebound, with Bitcoin and the Etherport showing recent performances as the main United States equity indices. Of these, the increase in bitcoin was driven mainly by the continued growth of giant whales, rising moods in the options market, improved chain data and improved spot ETF financial flows; the Ethershop was more supported by institutional adoption and the expected development of token infrastructure. However, Wintermute argues that the current round increase is more in line with the “mitigation rebound” feature than a new round of long-term cattle markets. Despite the improvement in the macro-environment and the continued institutional set-up to boost market sentiment, the accumulated funds of the Bitcoin spot ETF in the course of the year were still net outflows of approximately $2.73 billion, and the current situation should still be seen as emotional repair rather than a structural reversal until the ETF financial flows developed a consistent trend of improvement。