Wintermute says the rally in U.S. stocks is spreading from AI chip stocks to the software sector, while the crypto market has failed to follow the rise in risk assets for two consecutive weeks. The report states that approximately $2 billion has recently flowed out of BTC and ETH ETFs, with more incremental funds moving into AI stocks and small-cap stocks. At the same time, long-term funds have started buying BTC in batches through OTC channels, believing the current price is attractive over the next 18 months. Wintermute estimates BTC is currently around $72,000, with key support levels in the $60,000 to $65,000 range. The report also highlights that HYPE has surpassed $70 and continues to hit all-time highs, becoming one of the few mainstream tokens this year to decouple from the overall crypto market trend. Funds are increasingly flowing into application-layer and trading platform projects rather than infrastructure tracks. https://(wublock123.com)/news/wintermute-long-term-treasury-otc-buying-btc-62055