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cryptoJul 8, 2026, 6:42 AM

Wintermute: Bitcoin Rally to $64K Is Relief Rally, Not Structural Shift

Bitcoin rose to a two-week high above $64,000, but Wintermute warns the move is a relief rally driven by improved macro conditions, softer Fed expectations, and positive Ethereum news, rather than a structural shift.

BTCUSD

Bitcoin briefly touched a two-week high above $64,000, according to market data. Trading firm Wintermute characterized the move as a relief rally rather than a structural shift.

The firm pointed to three key drivers: improving macroeconomic conditions, anticipation of a softer Federal Reserve policy stance, and positive news surrounding Ethereum. "This combination is sufficient to explain the rally without the need for additional arguments," Wintermute noted.

The analysis suggests caution, implying that the upward movement may not be sustained without further catalysts.

Source: ForkLog