Coin Universe news: Wu Shuo learned that Wintermute has released its latest market update, saying that this round of crypto market decline is related to the retreat of AI trading, the Nasdaq’s continued drop, a strengthening US dollar, and expectations of high interest rates. The report noted that BTC fell 5.9% this week, once dropping below $60,000 and touching its 200-week moving average, while ETH fell 7.9%. Wintermute believes that market sentiment has entered an extremely pessimistic range; the share of on-chain loss-making supply has risen, indicating that capitulation is underway. However, ETFs are still seeing outflows, and channels such as stablecoins and Digital Asset Treasury (DAT) have not yet resumed buying. Therefore, the current situation is more like the later stage of a bear market rather than a confirmed bottom. The report also said that even if the macro environment improves, newly added liquidity may preferentially flow to AI stocks instead of the crypto market. Strategy’s new framework, for the first time, allows for the monetization of up to approximately $1.25 billion worth of BTC, which also means that the “permanent bid” of Bitcoin treasury firms is becoming conditional.

NAS1002.27%

BTC-1.84%

ETH-0.36%

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GateUser-14d03834

· 3h ago

Below 60k, on-chain capitulation signals are obvious, but Wintermute says it's like the late stage of the bear market, so is the bottom near?

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BridgeSideEyes

· 3h ago

BTC treasury buy orders now have conditions: a $125 million cap is in place, institutions are also watching from the sidelines, and liquidity is really being drained by AI stocks.

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GateUser-06596f3b

· 3h ago

Nasdaq weak + dollar strong + high interest rates, triple debuff stacked, no incremental capital on the crypto side, can only rise and fall with the macro.

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MountainBeforeTheStorm

· 3h ago

AI decline + macro tightening, this wave of decline is justified, but it hurts that ETFs are still flowing out. Wait until stablecoin buying returns.

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Wintermute: The cryptocurrency market decline is related to multiple factors.

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