Bitcoin Searching for a New Bottom:

- Bitcoin’s price has stabilized at its lowest level in nearly two years, lagging behind the stock market’s rally in the second quarter.
This summer, the cryptocurrency market is seeing clear stagnation. While stocks had one of their strongest quarters in six years, with the Nasdaq index rising by about 21% from late March to June, Bitcoin—which is usually regarded as a high-risk indicator—could not keep up with this performance. After an early rebound in the second quarter, prices fell sharply, ending the quarter in negative territory. From a peak in May near $82,815 to a low on June 30 near $58,170, Bitcoin’s price fell by more than 29%, recording about a 14% decline over the quarter.

However, Bitcoin outperformed the broader cryptocurrency market, with Ethereum down by more than 25% and XRP by about 20%, indicating a defensive shift in which capital favors Bitcoin over higher-risk tokens.

Still, the “king of cryptocurrencies” remains under pressure in July, with its total market value nearing $1.18 trillion, down from more than $4 trillion in early October, effectively searching for a new bottom. This comes after a decisive break below the market bottom formed in February at around $60,000, when prices stabilized near $58,700 after dropping to a 21-month low of $57,793 during the trading session. Overall, price movement remains confined within the $58,000 to $60,000 range, reflecting ongoing selling pressure, as investors appear to be reducing their exposure to the market rather than buying the dip.
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