Bitcoin falls below $60k, crypto market enters late bear market, true bottom unclear. Wintermute's latest market report released on June 30 shows Bitcoin dropping below $60k, with Ethereum declining in sync, signaling that the crypto market has entered the late stages of a bear market, but the true cycle bottom may not yet be in place. The Fear and Greed Index remains between 18 and 24, with about half of Bitcoin's circulating supply in a loss, indicators approaching historical bear market lows. Spot Bitcoin ETFs have seen net outflows of approximately $1.8 billion recently, with liquidity metrics showing no improvement. Wintermute expects that due to historical seasonal factors, the market is unlikely to bottom in summer, with the true bottom potentially occurring between September and October. The firm attributes recent pressure to the global AI industry cooling, the May PCE inflation data of 4.1% reinforcing expectations of persistently high U.S. interest rates, and capital rotation from large-cap tech stocks. #0成本拿2股SK海力士