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The cryptocurrency market has demonstrated unexpected macroeconomic resilience, fully absorbing the impact of the Fed Chair’s hawkish speech and the decline in the U.S. technology sector, according to analysts at market maker Wintermute in its latest review.
Against this backdrop, Bitcoin successfully held its ground after a powerful rally, while institutional capital began actively rotating into altcoins, triggering record inflows into Solana and $XRP funds.
Key takeaways from Wintermute’s report on who is saving crypto right now
Fed Chair Kevin Warsh’s remarks about bringing inflation back to 2% pushed the probability of a September interest rate cut to 61.9%. Traditional markets reacted with a decline: the Russell 2000 index of small-cap stocks fell 1.40%, while the technology sector entered a correction.
In previous macro cycles, this would have dragged crypto lower, but, as Wintermute emphasized, “the market absorbed a hawkish Fed Chair, the chip sell-off and month-end without giving back the breakout.”
While Bitcoin consolidated after a 23% rally and closed the week flat (+0.10% near the $82,000 resistance level), large players shifted their focus to other assets:
- The altcoin index rose 0.61%, outperforming Bitcoin and Ethereum.
- Solana and $XRP became the main targets for whales: inflows into their ETFs reached 2026 records of $154 million and $110 million, respectively.
Wintermute analysts noted that the outperformance of altcoins directly confirms a “broadening of capital rotation” across the industry.
Market levels are being supported by large funds rather than retail investors. Over the week, Bitcoin ETFs attracted $924 million — although a nine-day inflow streak ended on Friday with a $202 million outflow — while Ethereum funds finished firmly in positive territory, taking in $816 million without a single day of outflows.
“Two consecutive weeks of institutional inflows are the difference between a short squeeze and sustained demand,” Wintermute noted. Additional support comes from Strategy, which raised another $2 billion and currently holds around $1.6 billion in net cash, or “dry powder.”
The short-term trend remains undefined, but prices are receiving strong support from underinvested large players that are ready to buy the dips.
The first test will come with U.S. payroll data this Friday, September 4. If Bitcoin holds the $75,000 and $72,000 levels, bulls will retain the initiative. A weekly close below $72,000 would completely invalidate the positive scenario, as below that level there is “no obvious floor.”
Source: cryptonews.net