Wintermute: $85,000 becomes a key level for BTC, the market may choose a direction in the near future

Foresight News reports that Wintermute stated today that the current price range of BTC has shown signs of fatigue, but the market structure is not bearish; rather, it is stuck in a stalemate. The $85,000 support level has been tested multiple times, serving either as a solid bottom or a trap waiting for a breakout. Despite net outflows of US funds and continued compression of volatility, this support level remains intact, indicating the presence of buying interest below (just moderate in strength). Gold is playing the role that Bitcoin should be playing. The stock market is waiting for earnings reports to validate valuation rationality. Bitcoin, on the other hand, is in a “no man’s land”—neither weak enough to break support nor strong enough to regain upward momentum. The macro environment has been primed for a trend-driven market, but the crypto market has yet to follow suit.

This situation could change due to a reversal in ETF fund flows or shifts in the dollar’s trend. If the Federal Reserve intervenes in the yen exchange rate and the dollar continues to weaken, it will serve as a clear catalyst for risk assets. If the “Big Seven” tech giants report earnings that surpass expectations and the AI narrative continues to ferment, it will drive the Nasdaq index higher and boost the crypto market. Conversely, if Powell signals a hawkish stance or trade tensions escalate, the $85,000 support level will face severe tests. The 60-day consolidation period, combined with such dense event risks, will ultimately force the market to choose a direction.