According to Wintermute, U.S. spot Bitcoin ETF experienced net outflows of $679 million last week, marking the largest weekly outflow since late June, as crypto markets lost momentum from new capital inflows. Ethereum ETF also saw $542 million in net outflows during the same period. This outflow reversal comes as the Federal Reserve's meeting minutes showed most officials expect another rate hike this year, with Treasury yields rising to 5.24%. Bitcoin retreated from $86,000–$87,000 range last week, dipping to around $80,400 on Thursday before rebounding to above $83,000 and reclaiming the $82,500 resistance level. While the S&P 500 gained 1.2% last week and hit an all-time high, crypto assets lack similar earnings growth support. Wintermute maintains a cautious stance, noting that sustained market recovery depends on both Treasury yield stabilization and resumption of ETF inflows. The firm will turn bearish if 30-year Treasury yields breach the September 30 peak of 5.64% or Bitcoin continues facing resistance near $82,500.
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