Cryptocurrency market maker Wintermute analyzed, “BTC closed above its 50-week moving average on the weekly chart for the first time last week. Currently, $82,500 corresponds to the upper bound of a previous consolidation range, and if this level is stably maintained, further upward momentum is likely to continue. In the macroeconomic environment, risk assets also continued their strength last week. Although the US 10-year Treasury yield surpassed 5%, reaching its highest level since 2007, no clear risk-averse trend was observed. Along with the rise in BTC dominance, a wide range of altcoins are also showing strength. In the institutional options market, the establishment of low-delta call options and call spread positions with year-end expiry continues.”
