Wintermute: Institutions are cashing out some BTC positive returns, 75000 is still a key defensive line According to Foresight News, Wintermute stated in a post that BTC's ETF outflows exceeding $1 billion for two consecutive weeks (the previous six weeks were inflows) indicate that institutions are leveraging their strong performance to cash in some of their recent positive returns. More noteworthy is AI. Nvidia delivered textbook level performance beyond expectations, but there was almost no fluctuation after the market closed. The increment exceeded expectations and the pointer can no longer be moved. If the momentum of AI fades, the macro picture (record low consumer confidence, sticky inflation, Wox taking over the hawkish Federal Reserve) will gain more weight, and cryptocurrencies will not be spared. \The long-term structure of BTC is intact (reserves are at a low level for many years, long-term holders continue to accumulate, CLARITY is advancing, and HYPE is doing what major tokens should do in the early stages). But short-term capital flow drives prices, and currently it is negative. The key line for BTC is between $75000 and $76000. If we hold onto this line, BTC will once again hit $80000; If it falls below this range, it may quickly slide towards $70000 to $72000.