Forget AI: Wintermute Explains Why Bitcoin's Next Move Now Depends on Oil

The crypto market has faced the strongest pressure from macroeconomic factors since June, forcing market maker Wintermute to take a wait-and-see position. "We are not bearish, but we remain extremely cautious ahead of the Fed meeting," the OTC trading desk stated. In the 43rd week of the year, Bitcoin recorded its third consecutive weekly decline (by 2.43%), losing the key support level of $82,500 and dropping to $80,500. The main trigger for the fall was a sharp reversal in the U.S. spot ETF sector: on Thursday, net outflows from the funds amounted to $636 million, which happened in sync with the Nasdaq index falling by 2.6%. The shift in market priorities determined the dynamics of assets.

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