Wintermute: Bitcoin may temporarily drop to $59k due to liquidity contraction in summer

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ME News Report, June 24 (UTC+8), Market maker Wintermute's OTC trading division pointed out in a report that influenced by the Federal Reserve's hawkish stance and geopolitical news, Bitcoin and Ethereum are falling toward recent support levels. Wintermute's options pricing indicates that Bitcoin is expected to fluctuate between $61,242 and $63,563 in the next 24 hours, while Ethereum is expected to range from $1,606 to $1,694. The report also notes that correlations among tokens are increasing, liquidity is shrinking with the arrival of summer, and ETF capital inflows show no signs of new institutional buying. Wintermute has marked $59,000 as a key observation level; if current pressure persists, this level could serve as support at the bear market low. The remaining week will be dominated by three catalysts: the sustainability of the US-Iran peace agreement, the PCE inflation data released on Thursday, and the potential for increased market volatility due to traders rolling over or closing positions ahead of the month-end quarterly options expiry. (Source: PANews)
BTC0.57%
ETH1.01%
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