Wintermute: Recent Bitcoin movement is a rebound recovery, not a structural market shift

CoinFeed July 8 news, according to Decrypt, market maker Wintermute stated that Bitcoin's recent nearly 10% rebound is a 'textbook rebound', not a structural market shift, and the firm remains cautious. Wintermute pointed out that a loosening macro environment, a dovish Fed stance, and positive news related to Ethereum and institutional adoption are the three factors driving the rebound, sufficient to explain the current market without looking for a larger narrative. The firm believes the market may continue to 'edge slightly higher'. However, Wintermute said that a single data point does not constitute a trend, and more sustained inflows are needed to confirm a structural shift. Until broader capital flows truly turn, the current situation is merely a recovery.