BlockBeats News, July 14th, Wintermute released a market analysis stating that despite multiple geopolitical shocks such as the US airstrike on Iran and the closure of the Strait of Hormuz, Bitcoin has held above the key support level of $62,000, showing strong resilience in the market. Last week, as US-Iran negotiations were paused due to related issues, Iran attacked commercial ships, the US launched a new round of airstrikes, Tehran announced the indefinite closure of the Strait of Hormuz, and international oil prices surged sharply, with Brent crude oil seeing a weekly gain of 6.3% and the 10-year US Treasury bond yield rising to 4.57%. The market has readjusted the probability of a Fed rate hike in September to about 61%, and the US CPI data to be released this week will be a key indicator affecting expectations for the July FOMC meeting.

As for the crypto market, Bitcoin has maintained a stable trend after facing consecutive geopolitical risk events, holding above the $62,000 region after a minimal pullback and gradually rising to around $64,000. Ethereum has shown stronger performance, with a price approaching $1,805. Meanwhile, the eight-week trend of ETF outflows has finally ended, with about $282 million flowing into Bitcoin and Ethereum-related products last week. Although the inflow for the week is not enough to confirm a trend reversal, considering the continuous accumulation by whales recently and the market's weakened response to bearish news, the marginal selling pressure is easing, indicating that the market may be forming a temporary bottom.

In addition, the market's reaction to Strategy's sale of Bitcoin was muted, in stark contrast to two months ago when selling only 32 BTC triggered a sell-off, showing that investors' concerns about potential selling pressure have significantly diminished. Currently, Bitcoin has shown a characteristic of "no downside on negativity," but the market still needs to wait for further confirmation. Key factors to watch in the future include the US CPI performance, whether ETF funds can continue to flow in, and the development of the Hormuz situation. If inflation data cools down, fund flows improve continuously and drive progress on the CLARITY Act, Bitcoin is expected to challenge the key resistance level of $67,250; otherwise, continued oil price increases and escalating macro pressures may once again test the $60,000 support.