Wintermute stated that Ethereum dropped 10.2% this week, with both spot and derivatives markets showing continued weakness. The ETH/BTC exchange rate is approaching 0.0275. Wintermute believes that under the current macro environment, Ethereum is not a suitable asset. BTC's key support level is currently in the $76K–$78K range. If it can hold this range before NVIDIA's earnings report on May 20, market sentiment might recover; however, if it falls below $75K, the price could quickly dip to just above $70K amid continued ETF outflows and funding rate resets. Additionally, Wintermute noted that in an environment of rising U.S. Treasury yields and accelerating inflation, going long on BTC now implies betting on institutional funds re-entering the market—a premise that may be difficult to establish in the short term. https://(wublock123.com)/news/wintermute-ethereum-not-suitable-asset-in-current-macro-environment-61343