The recent rise of Bitcoin above $66,000, triggered by a slowdown in US core inflation to 2.9% and geopolitical news, does not change the overall picture. Marketing specialists from Wintermute have classified this dynamic as a classic "bear market rally". The main reason for skepticism is the lack of a fundamental liquidity inflow. Institutions still favor traditional stocks, and spot ETFs and stablecoins record capital outflows.

In the summer, crypto-market will most likely sink into a sidetrend phase. Moving to six-digit values ($100,000) requires a paradigm shift in liquidity. All eyes are now on the Fed’s decision. If the regulator chooses soft rhetoric against the backdrop of cheaper oil, risk assets will gain support. Otherwise, BTC risks falling back below $60,000. Wintermute emphasizes: focus on the real volume of ETF inflows, not on high-profile headlines, as a long-term bull trend is impossible without it.