Bitcoin Hits $86,000, Reclaims 50-Week Moving Average for First Time in About 8 Months: Wintermute

Bitcoin (BTC) climbed to $86,000 (approximately ¥14 million) in the crypto asset market, marking its highest level in about eight months. Wintermute, a major market maker, indicated that the market's clearance of two key events—the Federal Open Market Committee (FOMC) rate hike and the U.S. Senate's vote on the Clarity Act—triggered an upside breakout from the recent trading range.

According to the firm's weekly market report published on the 21st, BTC and Ethereum (ETH) broke above their previous range highs in quick succession within a matter of hours on the morning of the 21st. Before the start of U.S. trading hours, approximately $250 million (about ¥39 billion) in short positions were liquidated, propelling BTC to a sharp rally toward $86,000.

BTC had traded between $75,000 and $81,000 the previous week. The weekly close came in at $81,159 (approximately ¥13 million), achieving a breakout above the 50-week moving average for the first time since early November 2025. On a weekly closing basis, reclaiming the 50-week line marks the first such occurrence in roughly ten months.

Spot ETF Flows Reverse

Spot exchange-traded fund (ETF) flows also supported the rebound. After approximately $746 million (about ¥120 billion) in outflows during the first two days of the prior week, flows flipped to net inflows of $159.5 million (about ¥25 billion) on Thursday and $433 million (about ¥68 billion) on Friday, narrowing the weekly net outflow to approximately $6 million (about ¥940 million).