Wintermute's analysis this time is quite solid; whether the support at 75,000-76k can hold is crucial, and the next few days will be very important.

Wintermute states that the institutional buying pressure that recently pushed BTC from $70k to around $80k is rapidly weakening. The key support level for BTC at this stage is in the $75k to $76k range. Wintermute believes that if this range holds, BTC may retest $80k; if it breaks below, it could quickly drop to the $70k to $72k range.