The support structures that fueled Bitcoin's previous rally are now weakening as the second half of the year begins, according to CryptoSlate data. The largest cryptocurrency has fallen roughly 33% this year and more than 50% from its October record high above $126,000, trading near its weakest level since September 2024. Several key factors are shaping the outlook, including exchange-traded fund flows, Federal Reserve monetary policy decisions, and the role of corporate holders such as Strategy. These forces are expected to determine whether Bitcoin can reclaim the $100,000 level or slide toward $50,000. The convergence of institutional demand, macroeconomic conditions, and large treasury positions marks a pivotal period for the asset. Analysts view the coming months as a critical test of whether the market can stabilize or extend its downturn amid persistent pressure across multiple fronts.
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