Wintermute Declares Early Stage of Crypto Bull Cycle

Wintermute's report noted that despite the pressure in the U.S. debt market, the upward trend in digital assets continues. The company disagreed with the view that the opportunity to enter the crypto market has passed and argued that the global bull trend is in its early stages. As of October 2026, Bitcoin remains at $86,100 with a weekly increase of 2.4%, while the $82,500 level has become a significant threshold. The next target is set in the range of $90,000 to $95,000. It was emphasized that the movement in Bitcoin is not solely shaped by crypto-specific developments. The yield on the U.S. 10-year Treasury rose to 5.35%, while the 30-year Treasury yield increased to 5.6%. The increasing correlation between Bitcoin and the S&P 500 suggests that weakness in stocks could indirectly pressure crypto assets. Wintermute stated that the stagnation in major altcoins like NEAR and XRP is not a negative situation, but rather indicates a healthy consolidation. The altcoin index recorded its first decline, dropping 1.1% weekly. The market is watching the U.S. midterm elections on November 3, and a reduction in uncertainty in the bond market after this date could create opportunities for new highs.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.