Crypto market maker Wintermute has advised caution, stating in its latest weekly report that it is premature to declare a market bottom for digital assets. The firm argues that while recent price rallies have sparked optimism, the underlying fundamentals do not yet support a sustained bullish reversal.

Risk Asset Rally Masks Deeper Concerns

According to Wintermute’s analysis, the recent uptick in cryptocurrency prices is largely a reflection of improving sentiment toward risk assets generally, rather than a signal of a new crypto-specific bull run. The firm points to easing U.S. inflation concerns and reduced geopolitical tensions following the end of the conflict in Iran as factors that have temporarily lifted markets. However,…