Crypto market maker Wintermute published a detailed market update on Tuesday via X (previously Twitter), offering a comprehensive breakdown of Bitcoin’s (BTC) recent collapse, who was behind the selling pressure, and what conditions must change for a meaningful recovery to take hold. Wintermute Details Brutal Bitcoin Crash The firm described the past week as exceptionally severe for Bitcoin. Prices fell below $80,000 for the first time since April 2025 and continued sliding to around $60,000 before stabilizing in the low $70,000 range by the weekend. According to Wintermute, the decline erased all of Bitcoin’s gains that followed Donald Trump’s election victory in November 2024, accompanied by widespread liquidations