Bitcoin's Rally Fueled by Institutional Support

Bitcoin's recent rally has shown resilience despite renewed rate-hike pressure, and according to Wintermute, the cryptocurrency still has room to run. The firm notes that U.S. spot Bitcoin ETFs attracted $987 million in net inflows last week, extending a three-week streak of positive flows.

This institutional support matters because it provides a structural source of demand that was less established during previous Bitcoin cycles. Wintermute also points out that Bitcoin is roughly 50% below its prior peak after 340 days, which is a more modest drawdown compared to the 2018 and 2022 bear markets.

The immediate upside marker remains $82,000, and a sustained move above this level could attract sidelined capital and reinforce momentum. However, the main risk sits at $72,000, where a weekly break below that level, especially alongside meaningful ETF outflows, would weaken Wintermute's constructive view.