Wintermute stated in its latest report that due to the intertwined effects of the Federal Reserve's hawkish stance and geopolitical news (such as the US-Iran agreement), Bitcoin and Ethereum are moving closer to their recent price range lows. The report pointed out that the overall crypto market environment is deteriorating, correlations between tokens are increasing, and as summer approaches with gradually weakening liquidity, there are no signs of new institutional buying in ETF capital flows. Wintermute emphasized that if the current downward pressure persists, $59,000 will be a key support level and bear market low to watch for BTC. The remaining week will be shaped by three major catalysts: the subsequent development of the US-Iran peace agreement, the PCE inflation data to be released on Thursday, and the quarterly options expiration at the end of the month. (CoinDesk)