Bitcoin Faces Range-Bound Trading Amid Bullish Catalysts and Late-Cycle Market Caution

Key Points

1. Bitcoin’s price fluctuates near $115,700-$118,640, failing to surpass recent all-time highs.

2. Institutional inflows and regulatory approvals, such as the SEC’s green light for in-kind redemptions of Bitcoin and Ethereum ETFs, have not yet translated into sustained price gains.

3. Market analysts warn that Bitcoin’s muted response to positive headlines may signal late-cycle fatigue.

4. A rising U.S. dollar index (DXY) exerts downward pressure on Bitcoin’s value by making safer assets like T-bills more attractive.

5. The U.S. Securities and Exchange Commission’s approval of in-kind redemptions for Bitcoin and Ethereum ETFs marks a significant regulatory milestone, but the immediate price response has been subdued.