- Wintermute said Bitcoin and Ethereum moved above the upper end of their previous trading ranges after key macroeconomic events were absorbed.
- It said spot ETF flows supported Bitcoin‘s rebound as weekly net outflows narrowed, helping lift the token to its highest level in eight months.
- Wintermute said market attention could shift to Bitcoin, Ethereum, Solana (SOL) and Hyperliquid (HYPE), with capital later rotating into small- and mid-cap altcoins.
Forecast Trend Report by Period
The market’s focus is shifting to whether Bitcoin can establish itself in a higher trading range after breaking above the top of its recent band once key macro events were absorbed, according to Wintermute.
The digital-asset market maker wrote on X on September 22 that Bitcoin and Ether moved above the upper end of their previous ranges after two major variables were cleared: last week’s Federal Open Market Committee meeting and the vote on the Clarity Act.
Bitcoin traded between $75,000 and $81,000 last week and posted a weekly close of $81,159. It was the first weekly close above the 50-week moving average since early November last year. Bitcoin then climbed to $86,000, its highest level in about eight months.
Spot exchange-traded fund flows also supported the rebound. About $746 million was withdrawn over the first two days of last week, but that was followed by net inflows of $159.5 million on Thursday and $433 million on Friday. That brought weekly net outflows down to about $6 million.
With the two major variables resolved and the range breakout complete, this week is likely to be a process of establishing a new price band and absorbing profit-taking, Wintermute wrote. It added that market attention could shift back for now to major digital assets including Bitcoin, Ether, Solana (SOL) and Hyperliquid (HYPE).
Wintermute also said Bitcoin dominance rose again during the latest rebound. If Bitcoin extends its gains, capital could later rotate into small- and mid-cap altcoins.