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⚡️Wintermute: Following 's breakout, it faces its first test, 82500 USD becoming a key level to watch
BlockBeats News,September 29, Wintermute wrote that, on the macro front, risk assets continued to rise last week. Even as the U.S. 10-year Treasury yield broke above 5%, a high since 2007, the market still showed no clear risk-off sentiment. Crypto assets led the gains, with altcoins rising by approximately 5%，BTC close behind, while the Nasdaq also posted gains, and Treasury bonds with maturities of more than 20 years performed the worst.
The report believes that oil prices will be a key factor influencing October rate-hike expectations. Currently, crude oil shipments through the Strait of Hormuz remain significantly below pre-conflict levels, while Brent crude prices are close to 103 USD/barrel. If oil prices remain around or above 100 USD/barrel, market expectations of another October rate hike may remain elevated. The core question would then shift to whether risk assets can absorb further near-term rate hikes while bonds remain under sustained pressure.
In the crypto market,BTC closed above its 50-week moving average on a weekly basis for the first time last week. Currently, 82,500 USD marks the upper bound of the previous trading range and is also a key level to watch this week. If it can hold above this level, it may provide a foundation for the prior breakout; otherwise, a break below it would renew concerns over the breakout's validity. Meanwhile,BTC's market share has risen, the breadth of altcoin gains is already at a relatively high level, and institutional options trading continues to add low-delta calls and call spreads expiring at year-end.
Original link https://m.theblockbeats.info/flash/369563