Wintermute analysts say bitcoin has not yet formed a market bottom in the current cycle. We break down what this forecast means for BTC▲$62,630.00’s price outlook.
Wintermute analysts report that there are still no signs of sustained capital flowing back into bitcoin following the recent drop. In their view, the current decline does not yet confirm a market bottom.
Hot topic: Bitcoin price today lacks clear bottom signal, Santiment says
Bitcoin (BTC) has lost about 14% over the past week, falling below $62K to levels last seen in September 2024. Wintermute attributes the correction primarily to selling by US institutional investors and consecutive outflows from US spot bitcoin ETFs.
Strategy’s sale of 32 BTC at the end of May, its first since 2022, had little market impact due to its small size, according to the analysts.
At the time of publication, bitcoin trades at approximately $61,100. Over the past 24 hours, the coin has fallen 2.6%. Over the past week, it is down nearly 9%.
Pressure on the Bitcoin Market Continues
Since May 30, U.S. spot bitcoin (BTC) ETFs have recorded 10 consecutive sessions of net outflows, with total losses of about $2.97B. May outflows reached $2.43B— the worst monthly showing of 2026.
On-chain data shows that stablecoin reserves on exchanges continue to decline, indicating no fresh capital inflows.
Wintermute analysts noted that retail investors have recently been net sellers, rotating into traditional stocks. US institutions have taken a bearish stance, while flows from Asia and Europe have remained relatively balanced.
Read more: Can Bitcoin Crash to $20K in 2026? What Could Trigger a Historic Crypto Market Collapse
BTC Price Outlook
Wintermute highlighted weak technical support in the $50K-$59K zone. Bitcoin moved through that range quickly during the 2024 rally, so few significant accumulation levels formed there. In their view, capital flows will determine the market’s direction in the near term.
Despite the overall picture, some long-term investors have already started to accumulate positions at current levels. But confirming a trend reversal will require sustained buying pressure and renewed capital inflows. Without those signals, analysts caution that it is too early to call the end of the correction.
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