Wintermute: AI trading cooldown drags market correction, Bitcoin tests key support level

Shenchao TechFlow news: On June 30, the latest report released by Wintermute showed that the cooling of AI trading has triggered a shift in market style. The Nasdaq index fell for the fifth consecutive trading day, with a single-day decline of 4.5%, and the semiconductor sector is under clear pressure. Bitcoin fell by 5.9%, dropping below $60,000 to about $59,300; Ethereum fell by 7.9%.

In the crypto market, sentiment remains in the extreme fear range. The proportion of loss-making positions on-chain continues to rise, indicating that the market has already seen a certain degree of panic selling, but liquidity conditions have not improved yet. This week, crypto ETFs recorded net outflows of about $1.8 billion, suggesting that incremental liquidity is still insufficient.

In addition, Strategy released a “digital credit capital framework,” increasing STRC dividends to 12%, and authorizing a Bitcoin sale plan of up to approximately $1.25 billion. This marks the first time in the company’s history that it has officially allowed the sale of part of its Bitcoin to cover obligations and support share repurchases. Overall, although the market has entered the deep waters of a bear market, the signals confirming a bottom still remain insufficient. Going forward, it is necessary to continue monitoring capital flows, macroeconomic data, and how Bitcoin defends the 200-week moving average and the $58,000 range.