Woofun AI notes that Wintermute characterizes the current Bitcoin price action as a corrective rally rather than the onset of a new bull market. The firm attributes recent strength in Bitcoin and Ethereum to weak U.S. employment data, dovish Fed signals, and whale accumulation. Despite improved sentiment, Bitcoin spot ETFs have seen $2.73 billion in net outflows year-to-date, suggesting the trend reflects sentiment recovery rather than a fundamental shift.