Bitcoin’s $80K Rally Raises Questions About Sustainability, Wintermute Says

TLDR: Bitcoin surpassed $80,000 for the first time since January, briefly reaching $83K before pulling back slightly. Open interest surged from $48B to $58B while spot volumes hit two-year lows, signaling leverage-driven movement. Bitcoin ETF inflows added $623M, with Morgan Stanley’s new BTC ETF pulling $194M in its debut month alone. Tuesday’s CPI print and [...]

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