Wintermute: Liquidity Calms Down Towards Year-End, Bitcoin Price Likely to Continue Range-Bound Movement Wintermute's latest market update shows that as of December 23, the crypto market remains in a volatile state. BTC briefly dropped below $85,000 last week before gradually recovering to $90,000, while ETH fell below $3,000. Last week, the total market liquidation exceeded $2 billion, with leveraged funds being quickly flushed out. Bitcoin's dominance continues to rise, with major coins like BTC and ETH receiving more buying support, while altcoins underperformed due to supply pressure and unlocking plans. Data shows that institutional funds have been flowing in steadily since the summer, and retail investors are gradually shifting from altcoins to major coins. Despite sharp short-term fluctuations, overall market liquidity is calming down. With the year-end holidays, market activity is expected to decrease, and prices may continue to move within a range. In the medium to long term, the continued entry of traditional financial institutions could provide stronger support for the market.