Bitfinex and Wintermute see Bitcoin consolidating above $84K as equity correlation rises
- —Bitfinex base case: consolidation above $84,000, where 75% of BTC supply is in profit
- —Wintermute: BTC correlation with the S&P 500 has risen after breaking down six weeks ago
- —Next major resistance sits at $90,000–95,000, after rejection near $94,000–96,000
- —Rising 30-year Treasury yields pressure risk assets by tightening liquidity
Why it matters: Without renewed ETF inflows and with tight equity correlation, Bitcoin is more exposed to macro shocks than to crypto-native catalysts.
Source: FXStreet Crypto