Wintermute: The recent trend of Bitcoin is a rebound and repair market, rather than a structural change in the market

According to Decrypt, market maker Wintermute stated that Bitcoin's recent nearly 10% rebound is a "textbook rebound," rather than a structural change in the market, and the company remains cautious.

Wintermute pointed out that the three driving factors behind the rebound are the easing macro environment, the Federal Reserve's dovish tone, and positive news regarding Ethereum and institutional adoption, which are sufficient to explain the current market without seeking a larger narrative. The company believes the market may continue to "rise slightly." However, Wintermute stated that a single data point does not constitute a trend, and more sustained inflows are needed to confirm a structural change; until broader capital flows genuinely shift, the current situation is merely a corrective rally.