TL;DR
- After a standout second quarter, Bitcoin has solidified its status as the leading force in the cryptocurrency market.
- The cryptocurrency has also achieved a considerable, albeit symbolic, milestone.
The Impressive Performance in Q2
Despite the volatility, the primary cryptocurrency has experienced considerable success over the past three months. Its valuation hit an all-time high of almost $112,000 towards the end of May, while its market capitalization shot well above $2 trillion.
Moreover, BTC closed on June 30 at around $107,500, marking a 30% gain for Q2 alone. While there have been quarters when Bitcoin gained more, this represents the highest quarterly closing price in the asset’s history.
The surge over the last few months might be substantial, but some vital metrics suggest there might be more room for growth in the short term. BTC’s exchange netflow, for instance, has been predominantly negative in the past 30 days, suggesting that investors have been moving assets from centralized platforms toward self-custody methods. This, in turn, reduces the immediate selling pressure.
Rising inflows into spot BTC ETFs add to the bullish momentum. According to SoSoValue, these products have attracted billions of dollars in recent weeks, underscoring sustained investor appetite and institutional confidence.
Price Forecasts
The sentiment across the crypto community is also quite optimistic. X user BiBull recently claimed BTC is likely preparing for its “final leg up,” envisioning a surge above $160,000 sometime this year.
Cas Abbe and KALEO made bullish predictions, too. The former thinks the cryptocurrency is still in “the expansion phase,” forecasting a “big pump” in the following weeks.
“Once BTC breaks above $110K, it’ll pump 15%-20% within a matter of weeks,” the analyst said.
For their part, KALEO assumed that the asset’s price may reach a new historic peak in the next seven days. Those willing to explore additional predictions as well as check one investment advice coming from a prominent expert, please take a look at our dedicated article here .
On the other hand, though, there have been some warning signs popping up as well. As CryptoPotato reported , investors have been taking profit more aggressively within the current trading range, the apparent demand seems to also have been weakening as of late, and the overall capital into the industry has also seen a drop.
