Wintermute: Bitcoin may drop to $59,000 in the short term due to shrinking summer liquidity

CoinFeed, June 24 - According to CoinDesk, market maker Wintermute's OTC desk noted in a report that Bitcoin and Ethereum are trending toward the lower end of their recent ranges, influenced by the Fed's hawkish stance and geopolitical news. Wintermute's options pricing indicates Bitcoin is expected to trade between $61,242 and $63,563 over the next 24 hours, with Ethereum between $1,606 and $1,694. The report also highlights rising correlations among tokens, shrinking liquidity as summer arrives, and no signs of new institutional buying in ETF inflows. Wintermute marks $59,000 as a key level to watch, which could serve as a bear market low support if current pressure persists.