Bitcoin Recent Outlook: Market volatility intensifies, institutional capital momentum weakens, but the effects of Halving and ETF promotion still bring medium to long-term bullish potential. Recently, Bitcoin prices have been range-bound between fear and greed, with the narrowing premium in the derivation market indicating a decrease in short-term trading enthusiasm. However, the 2024 Halving has reduced supply, coupled with ETF capital inflows and institutional adoption, experts predict that by the end of 2025, it could reach between $135,000 and $250,000. Policy and liquidity cycles will be key variables, and if interest rate cuts are initiated, the market may welcome a new wave of pump.