Wintermute: BTC at risk of range breakdown on macro, liquidity woes; $59K in focus

Bitcoin could break below the lower end of its trading range due to the U.S. Federal Reserve's hawkish stance, the conflict involving Iran, and draining liquidity, according to an analysis by crypto market maker Wintermute. In a recent report cited by CoinDesk, Wintermute noted that while the options market anticipates low volatility over the next 24 hours, overall market conditions are deteriorating amid shrinking liquidity and stalled spot ETF inflows. The firm stated that if the current downtrend persists, the key support level to watch is $59,000. Key market triggers this week include: - The status of the U.S.-Iran peace agreement - The release of Personal Consumption Expenditures (PCE) data on June 25 - Month-end options expiry This analysis follows a report from yesterday in which Wintermute suggested that potential selling pressure had eased and that Bitcoin would likely remain range-bound unless fund inflow structures improved.