CoinMeta data: In its latest market weekly report, Wintermute stated that the crypto market is losing support from capital flows, while the U.S. stock market is still supported by expectations of corporate earnings growth. Last week, BTC fell by 3.2%, ETH fell by 7.0%, and there was a net outflow of approximately $679 million from U.S. spot BTC ETF, the largest single-week outflow since late June, with ETH ETF experiencing a net outflow of about $542 million. Wintermute believes that for Bitcoin to resume its upward trend, two conditions must be met simultaneously: long-term U.S. Treasury yields need to stabilize, and spot ETF funds need to turn back to net inflows. Before that, BTC is still likely to behave as a risky asset with high volatility and greater downside risk. The institution does not recommend chasing short-term rebounds in low-quality altcoins. Wintermute remains bullish on the crypto market in the long term, but noted that if U.S. 30-year Treasury yields break through 5.64%, or if BTC continues to be hindered around $82,500, they will adopt a more cautious stance.