Bitcoin Bull Market Intact but Q3 Likely to Be Slower: Bitfinex
2025-07-02 00:10:11
Main Idea
Bitcoin (BTC) is currently trading within a narrow range of $100,000 to $110,000, with reduced market activity and potential for continued range-bound price action in Q3, while institutional demand could support future upside.
Key Points
1. BTC has been confined within the $100,000 to $110,000 range since May 8, with reduced profit-taking and cooling on-chain and exchange activity.
2. Bitcoin-denominated open interest declined by 7.2%, from 360,000 BTC to 334,000 BTC, indicating a reactive market environment.
3. BTC has historically recorded an average return of 27.12% in Q2 and 6.03% in Q3 since 2013, with lower volatility expected this quarter.
4. Despite a slowdown since April 9, BTC has rallied roughly 50% to new all-time highs, showing a healthy market structure with higher support zones.
5. Persistent institutional demand, particularly from U.S. ETFs, could sustain an upside trend and potentially lead to new all-time highs.
Description
Since May 8, bitcoin (BTC) has been confined within the $100,000 to $110,000 range, indicating that neither bulls nor bears have been able to take control. This consolidation phase has continued as the leading digital asset enters the third quarter of the year. According to the latest Bitfinex Alpha report , BTC may perform even more poorly over the next three months, as this quarter has historically been its weakest. BTC in A Waiting Game Bitfinex analysts say BTC is in a waiting game, with red...
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