News linked to both this project and an event.
Wintermute stated that, as of May 25, BTC was trading at approximately $76,600 (down 1.5% weekly), while ETH traded at around $2,140 (down 1.7% weekly). Meanwhile, the U.S. equity market’s S&P 500 Index hit a new all-time high during the same period—highlighting a pronounced divergence between crypto and equities. BTC spot ETFs saw outflows of roughly $1.26 billion for the week, bringing cumulative outflows over two weeks to over $2 billion. Institutional buying—previously instrumental in driving BTC from $70,000 to $80,000—has clearly receded. The ETH/BTC ratio hit a fresh 10-month low, down 35% cumulatively from its August peak. On the macro front, the University of Michigan’s Consumer Sentiment Index plunged to a historic low of 44.8, while the one-year inflation expectation rose to 4.8%. NVIDIA reported Q1 revenue growth of 85% year-on-year and issued a Q2 revenue guidance of $91 billion—but saw virtually no after-hours reaction, suggesting AI-related trades are already fully priced in. Wintermute noted that BTC’s key support currently lies between $75,000 and $76,000; holding this range could enable a retest of $80,000, whereas a break below would rapidly open the $70,000–$72,000 zone. The near-term direction hinges on whether institutional capital returns to the market.
that, according to Onchain Lens monitoring, a whale deposited 17.566 million ENA tokens, worth $1.78 million, into Wintermute. The whale had previously withdrawn these ENA tokens from Wintermute and Binance at a cost of $5.38 million, resulting in a loss of $3.6 million from this transaction.
According to Finance Feeds, Wintermute’s latest report states that the global market narrative has rapidly shifted from “when will rates be cut?” to “will rates need to be raised?”, driven by rising inflationary pressures and hotter-than-expected macroeconomic data—leading to a cooling of momentum in the crypto market. Bitcoin retreated after briefly breaking above $83,000, while major altcoins posted double-digit weekly declines. The report notes that this rally was primarily fueled by short squeezes in the perpetual futures market—not underlying spot buying. Concurrently, Bitcoin derivatives open interest rose by $10 billion over the past month to $58 billion, while spot trading volume fell to a two-year low. Although spot ETFs recorded net inflows of $623 million recently and exchange-held Bitcoin reserves dropped to a seven-year low, these factors remain insufficient to offset near-term macro risks.
Wintermute released its weekly market analysis, covering the week ending May 11. During this period, BTC broke above $80,000 for the first time since January, peaking near $83,000 and decisively crossing its 200-day moving average—a resistance level that had held for seven months. However, Wintermute noted that this rally was primarily leveraged-driven: open interest surged by $10 billion month-on-month to $58 billion, while spot trading volume hit a two-year low—classic hallmarks of a short squeeze rather than a healthy breakout. Funding rates remain skewed bearish, indicating further short-covering potential in the near term; yet covering shorts does not equate to genuine bullish consensus. Looking at medium- to long-term fundamentals, institutional buying logic remains intact: BTC ETFs posted $623 million in net inflows for the week; Morgan Stanley’s BTC ETF attracted $194 million in its first month with zero net outflows on any single day; and BTC reserves held on exchanges remain at a seven-year low. Nevertheless, Wintermute cautioned that the RSI has entered overbought territory, and if spot buying fails to materialize after the squeeze concludes, prices face significant risk of a rapid correction. On the macro front, the Nasdaq rose 4.5% and the S&P 500 gained 2.3% for the week—both hitting all-time highs. Nonfarm payrolls significantly exceeded expectations (115,000 vs. forecast 65,000). U.S.-Iran negotiations collapsed, with Iran demanding sovereignty recognition and reparations—terms rejected by Trump. Oil prices swung violently between $88 and $113 per barrel during the week, yet equity markets reacted indifferently. Key events to watch this week:
Wintermute’s weekly market report indicates Bitcoin recently broke through $80,000 and briefly touched around $83,000, while also reclaiming the 200-day moving average for the first time in seven months. However, this rally is clearly more driven by leveraged capital rather than spot buying.The report notes that over the past month, Bitcoin open interest increased by approximately $10 billion, while spot trading volume dropped to a two-year low, a classic short squeeze scenario. Although ETFs still recorded net inflows of $623 million and BTC reserves on exchanges fell to a seven-year low, the current RSI has entered overbought territory. If spot buying fails to sustain after the short squeeze ends, BTC prices could face a rapid correction risk.Wintermute also stated that the current crypto market rally is more driven by the strength of US equities and the resonance of leverage, rather than an independent bull market narrative. Upcoming US CPI data and changes in Federal Reserve policy expectations will be key factors in determining whether BTC can stably hold above $80,000.
according to Lookonchain monitoring, wallet 0xb5E4 has received a total of 1.22 million HYPE over the past 3 weeks, valued at approximately $52.28 million. The funds originate from sources including Wintermute, Galaxy Digital, OKX, Bybit, Gate, and Kraken. On-chain data suggests that whales and institutions may be continuously accumulating HYPE.
According to on-chain analyst Ember (@EmberCN), after Lido launched its $LDO buyback program, whales/institutions allegedly followed suit by purchasing 4.5 million $LDO (approximately $1.86 million) and 10,000 $AAVE (approximately $1.15 million) via OTC deals; the tokens originated from Wintermute and FalconX.