Bitcoin may rebound if ETF inflows return and long-term yields stabilize

Wintermute said the crypto market has lost momentum from capital inflows, while equities have maintained their gains on the back of corporate earnings. The firm added that two conditions need to be met for crypto to keep a constructive outlook: stabilization in U.S. Treasury yields and a return to net inflows into spot ETFs. Until those conditions are met, Bitcoin may continue to behave like a high-beta asset that is highly sensitive to stock-market moves, Wintermute said in an analysis containing the English phrase "high-beta asset." The firm also cautioned against chasing rallies in altcoins with weak fundamentals during any rebound. At the same time, Wintermute maintained its longer-term positive view, saying market interest in BTC remains below long-term trend levels and that the current upcycle is still in its early stages, leaving room for further gains. As for key variables this week, Wintermute pointed to the U.S. September Consumer Price Index. The firm said whether higher energy prices spread into core inflation could affect the interest-rate outlook, while earnings reports from financial institutions and AI-related companies will also be key gauges for the stock market and the global economy.