TechFlow News: On May 26, Wintermute published a report stating that, as of May 25, BTC was trading at approximately $76,600 (down 1.5% week-on-week), while ETH traded at around $2,140 (down 1.7% week-on-week). Meanwhile, the U.S. equity market’s S&P 500 Index reached a new all-time high during the same period—highlighting a pronounced divergence between crypto and equity markets. BTC spot ETFs saw outflows of roughly $1.26 billion for the week, bringing cumulative outflows over two weeks to over $2 billion. Institutional buying—previously instrumental in driving BTC from $70,000 to $80,000—has clearly receded.
The ETH/BTC ratio hit a fresh 10-month low, down 35% cumulatively from its August peak. On the macro front, the University of Michigan Consumer Sentiment Index plunged to a record low of 44.8, while the one-year inflation expectation rose to 4.8%. Although NVIDIA reported Q1 revenue growth of 85% year-on-year and guided Q2 revenue at $9.1 billion, its stock showed virtually no reaction after hours—indicating AI-related trades are already fully priced in. Wintermute noted that BTC’s key support currently lies between $75,000 and $76,000; holding this range could enable a retest of $80,000, whereas a break below would rapidly open the $70,000–$72,000 range. Near-term direction hinges on whether institutional capital returns to the market.
