Wintermute: BTC returns to $70,000, ETH sets a record for weekly ETF fund inflows
According to the market weekly report released by Wintermute, Trump announced a five-day suspension of strikes on Iran's energy infrastructure, leading to a decline in geopolitical risk premium. BTC rebounded from a low of $68,000 back above $70,000, while Brent crude oil saw a significant drop. The Federal Reserve maintained the interest rate at 3.50%-3.75% during this meeting, and the dot plot indicated that out of 19 officials, 14 expect zero or only one rate cut by 2026, with the market completely ruling out any rate cuts before autumn.
This week, BTC overall fell about 3.4%, with the FOMC meeting triggering an outflow of $708 million in ETF funds in a single day, marking the largest single-day outflow in nearly two months. Gold recorded its worst weekly performance since 1983, with a decline of over 10%. ETH performed relatively well, with a net inflow of $160.8 million in ETFs for the week, setting a historical record.
Wintermute pointed out that if transportation through the Strait of Hormuz normalizes and diplomatic negotiations continue to advance, BTC is expected to challenge the resistance range of $74,000 to $76,000, and in an extremely optimistic scenario, it could head towards $80,000; if negotiations break down and transportation restrictions persist, BTC may retest the mid-support level of $60,000.
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