Market maker Wintermute has highlighted a shift in market sentiment, noting that inflation pressures are re-emerging, causing the narrative to pivot from "when to cut rates" to "whether to raise rates" within five trading days. In the digital asset space, Bitcoin briefly surged past $82,000 following progress on the CLARITY Act but later retreated to around $78,000, marking a 5.7% weekly decline. Ethereum also saw a weekly drop of 10.2%, with the ETH/BTC ratio falling to approximately 0.0275. Wintermute attributes last week's Bitcoin surge primarily to leverage and short covering rather than spot buying confirmation. The firm identifies $76,000 to $78,000 as critical short-term support levels for Bitcoin. Given rising yields and accelerating inflation, Wintermute suggests that expecting immediate institutional re-entry may be challenging.