Bitcoin Holds Steady After Record High
Bitcoin’s recent pullback from its all-time high isn’t necessarily a sign of trouble—more like investors catching their breath. After hitting a staggering $123,640 earlier this month, BTC dipped about 5.44%, settling back toward the lower end of its recent trading range.
The drop came after U.S. inflation numbers came in hotter than expected, spooking traders across the board. But here’s the thing: the market hasn’t exactly panicked. Instead, Bitcoin’s been moving sideways, bouncing between its peak and support levels. It feels less like a sell-off and more like people waiting to see what happens next.
What’s Next for BTC and ETH?
The big question is whether the Federal Reserve will cut rates later this year. If that happens, it could give Bitcoin—and Ethereum—a boost. For now, though, traders shouldn’t expect fireworks. Range-bound trading seems likely until there’s clearer economic data or policy shifts.
Ethereum’s been interesting to watch, too. After bottoming out around $1,386 in April, ETH surged to just shy of its all-time high, hitting $4,783 last week. That kind of move keeps altcoin speculation alive, even if the broader market’s been quieter lately.
Altcoins Feeling the Squeeze
Right now, smaller cryptocurrencies are having a tougher time than Bitcoin or Ethereum. Money’s flowing toward the big two, leaving altcoins exposed to sharper drops. It’s a pattern we’ve seen before—early in bull markets, institutional money tends to pile into BTC and ETH first before trickling down to riskier bets.
Bitcoin’s dominance (its share of the total crypto market) has slipped from 65% to 59% over the past couple of months. That usually means investors are starting to take more chances with altcoins again. But until Bitcoin or Ethereum breaks decisively past their highs, the rest of the market might stay stuck in limbo.
For now, it’s a waiting game. Macroeconomic signals will likely decide where things go next. Until then, expect more back-and-forth—maybe with a few surprises along the way.
