Will the Bitcoin Breakout Continue? Wintermute Eyes $90,000 Key Level

According to the recent analysis by Wintermute reported by Foresight News, Bitcoin appears to have entered a new phase after breaking out of a narrow trading range that has lasted over two months. The market structure change has recently begun, and it will be key to the asset’s next move.

Changing Market Structure Starting November

Most importantly, this marks the beginning of the year—it’s the first time Bitcoin has truly broken out of the trading band based on real money flow, not just leverage trading moves. The market is now in an upward channel, indicating a shift in structural dynamics. This development offers a new perspective for investors waiting for clarity on market direction.

Real Money Inflows and ETF Demand Recovery

Demand for ETFs is returning, supported by a favorable inflation environment. This includes the cryptocurrency sector, which is starting to move in tandem with other risk assets that are rising. The combination of genuine institutional money and retail interest in ETF products is creating a more stable foundation for continuity. This is not just speculation—it’s strategic capital allocation working in the market.

Healthy Leverage Cleanup and Positive Signs

Although Monday saw significant deleveraging, it is viewed as a natural adjustment. The rapid removal of leverage did not trigger a vicious cycle or panic liquidations—signs that the market has underlying buying support. Such behavior is positive for the sustainability of the rally.

Tariff Concerns and Key Monitoring Points

The main question now is whether the tariff issue is just strategic positioning or if actual policy changes are coming. The market currently believes it is a bluff, as US stocks and the US dollar have continued to rise since the start of the year, and interest rates have not yet re-priced. In the short term, three data points should be watched: the market opening next week, upcoming PCE data, and naturally, how price action responds to the $90,000 resistance.

Will the Rally Continue or Return to $90,000 Support?

The critical level of $90,000 is becoming the fulcrum of momentum. If Bitcoin remains above this level this week and ETF channels continue to see inflows, there is a high probability that the breakout scenario will persist. Conversely, if additional selling pressure causes it to fall below $90,000, the trading range from November will re-emerge as a resistance zone. Currently, buying pressure looks solid, but next week will be a critical test of sustainability.