Matrixport pointed out that despite the wave of counterfeit currencies, Bitcoin remains stable. Since the launch of Ethereum spot ETFs in the United States last year, Ethereum's market dominance has decreased by nearly 50%. Many altcoins have experienced rapid increases and then rapid decreases, forming a pyramid shaped price structure. Bitcoin needs liquidity catalysts to continue to rise, such as the Federal Reserve releasing dovish signals or cutting interest rates, stablecoin growth, and increased futures leverage. However, currently there is a lack of significant liquidity influx in the cryptocurrency market, and the probability of a large-scale rise in altcoins in the short term is not high.
The Federal Reserve may not adjust interest rates during the summer to assess the impact of tariffs on inflation. Despite market expectations of four interest rate cuts in 2025, Federal Reserve Chairman Powell stated that he will evaluate it cautiously. Recently, the amount of stablecoins minted has decreased, supporting the possibility of Bitcoin remaining in the $80000 to $90000 range in the short term. Despite the sluggish trading volume, the weakening of the US dollar may increase the global money supply, thereby supporting the price of Bitcoin. In addition, the reduction of regulatory risks has also made Bitcoin perform better than before in the current market adjustment.