Wintermute: Early bear market selling pressure on BTC seems to decrease, focus on resistance levels of $74000 and $80000 Foresight News reported that Wintermute published an article stating that the early bear market selling pressure seems to have passed, but a confirmation letter is still needed to officially announce that the market has entered a new stage. The current market structure is more positive than in the past few months. Coinbase premium reset, ETF fund inflow, and institutional trading table fund flow all point in the same direction. The $60000 range seems to have attracted real institutional funding support. This is a very important prerequisite. Nevertheless, it is still necessary to maintain a certain level of caution. For BTC, $74000 and $80000 are resistance levels that require special attention. The cycle analogy is also worth remembering: historically, it usually takes about 400 days to go from peak to valley, and we are currently in a bear market for less than 200 days. Due to structural reasons, including the adoption of stablecoins and RWAs, the maturity of institutional infrastructure, and the absence of fundamental disruption, the depth of this bear market will be shallower than in previous cycles. However, this does not mean that we can have unrealistic expectations for the speed of recovery. \At present, the selling pressure has basically cleared, and institutions are accumulating positions. The geopolitical background unexpectedly provides a narrative tailwind for BTC as a hard asset. The volatility will still remain high. This week, we need to pay attention to the wording of the central bank, headline news related to energy infrastructure, and BTC's performance when testing the price at $80000.