Wintermute, the largest cryptocurrency market maker, has set a “red line” for Bitcoin at $82,500. US inflation reached 3.7%, causing a 5.52% crash in the Nasdaq, while Bitcoin lost 1.99% and emerged as the main defensive asset with a 3.5-point lead over the tech index. Spot ETFs saw net outflows of $679 million, and the altcoin sector dropped 5.69% over the week. Wintermute’s analysts believe the FOMC meeting on Wednesday represents the likely breakout point, with Bitcoin needing to move higher before altcoins can resume any broad-based rally.
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