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BTC 
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HYPE 
SOL Wintermute: BTC and ETH break through key resistance, and SOL and HYPE may become the focus of short-term attention.
Under the leadership of Bitcoin and Ethereum, the strong rebound in the crypto market is gradually spreading to altcoins. Market maker Wintermute recently pointed out that investors should focus on two cryptocurrencies that may become the focus of the next market round. According to its latest market assessment, with the implementation of the Federal Reserve's interest rate decision and the advancement of the US Senate CLARITY Act process, the main uncertainties faced by the market have largely subsided, which effectively supports investors 'risk appetite.
After Bitcoin successfully stabilized above $87,000 and Ethereum broke through the $2,700 mark, Wintermute said that market attention to Solana (SOL) and Hyperliquid (HYPE) is expected to increase further in the short term.
Bitcoin and Ethereum break through critical levels
Last week, the Federal Reserve's interest rate decision and the CLARITY Act process, which were closely watched by the crypto market, triggered violent price fluctuations. Wintermute analysis believes that although the results of these macro events have limited direct benefits to the market, they do eliminate the significant uncertainties faced by some investors. In this context, Bitcoin and Ethereum successfully broke through the upper edge of the previous trading range.
Among them, Bitcoin exceeded the US$87,000 mark for the first time since January this year; Ethereum successfully reached US$2,700. This upward trend also spread to large altcoins, pushing XRP above $1.60 and Solana prices closer to $120.
Capital flow and institutional demand pick up
Wintermute分析师指出，本轮加密市场的上涨不能仅用衍生品市场中空头头寸的平仓来解释。公司强调，在美国上市的现货比特币ETF中的资本流动也是支撑市场复苏的重要因素之一。
数据显示，周二和周三现货比特币ETF出现总计7.46亿美元的资金流出。然而，局势在周中发生逆转：周四录得1.595亿美元净流入，周五更是达到4.33亿美元净流入。这使得全周总净流出大幅缩减至约600万美元，释放出机构需求正在重新回暖的信号。
为何关注Solana与HYPE？
随着比特币和以太坊向上突破前期交易区间，Wintermute认为加密市场可能正在形成新的价格层级。公司指出，重要阻力位的突破为投资者重塑短期预期、提升市场活跃度奠定了基础。未来，市场能否适应新价位，并凭借强劲的需求吸收潜在的获利回吐压力，将是维持平衡的关键。
若这种平衡得以维持，比特币和以太坊展现出的积极态势有望继续传导至大型山寨币板块。Wintermute特别提醒，市场焦点未必会局限于比特币和以太坊。特别是在短期维度内，Solana和Hyperliquid（其代币为HYPE）有望从众多大型山寨币中脱颖而出，成为投资者密切跟踪的对象。
如果比特币和以太坊保持强劲的价格动能，市场资金可能会流向其他高市值的加密货币。在这种情景下，SOL和HYPE因交易量增加和投资者兴趣升温，将成为值得重点监控的资产。Wintermute评估认为，近期加密市场出现的兴奋情绪和上涨趋势目前呈现出健康的形态。
若比特币进一步上涨，资金或将轮动至山寨币
根据Wintermute的判断，若比特币开启新一轮上涨浪潮，可能会加速加密市场的资金轮动。初期阶段，BTC、ETH、SOL和HYPE等高市值资产可能率先表现；若涨势持续，资金可能进一步流向中小市值的山寨币。
因此，比特币在87,000美元附近的走势以及以太坊在2,700美元上方的表现，将对判断市场整体方向至关重要。随着ETF资金持续流入及大型山寨币上涨动量的维持，Solana和HYPE能否吸引更多投资者目光，将是未来几日的重要观察指标。
