Altcoins News
By Julie Binoche
1 / 15
ETF Inflows and Treasury Accumulation Could Drive the Next Rally. For Bitcoin to climb even higher this month, Harvey points to the need for sustained inflows into U.
2 / 15
Retail Demand: Signs of Life, But Not Fully Back Yet. Coinbase’s recent climb to No. 137 on the U.S. Apple App Store is being viewed by some as an early…
3 / 15
Current Price Action and Market Sentiment. At the time of writing, Bitcoin is trading near $118,000, down slightly from its new all-time high…
4 / 15
The Bear Case: A Drop Below $110K Is Still in Play. While the bullish setup remains intact for now, Harvey outlined a risk scenario where Bitcoin…
5 / 15
Cycle Watch: Could October Be the Peak?. Another voice weighing in on the bigger picture is crypto analyst Rekt Capital.
6 / 15
Outlook for the Rest of 2025. Despite the short-term uncertainties, Harvey remains confident that Bitcoin will continue trending…
7 / 15
Bitcoin has once again captured the attention of investors and traders alike after hitting a fresh all-time high earlier this week.
8 / 15
Michael Harvey, head of franchise trading at Galaxy Digital, believes that Bitcoin is entering a natural consolidation phase after its sharp rally.
9 / 15
However, Harvey isn’t ruling out the possibility of another record-setting move before month’s end.
10 / 15
In addition to ETF demand, Harvey notes that Bitcoin treasury firms — companies that hold Bitcoin on their balance sheets as a reserve asset — continue to accumulate at a steady…
11 / 15
But perhaps the biggest unknown in the short-term equation is retail participation. While there are hints that interest from individual investors is on the rise, the data…
12 / 15
Still, Harvey cautions that the broader wave of retail demand — the kind that typically accompanies explosive bull runs — may not have arrived yet.
13 / 15
If retail momentum picks up and adds to the ongoing ETF inflows and institutional accumulation, another record high in July could become a reality.
14 / 15
At the time of writing, Bitcoin is trading near $118,000, down slightly from its new all-time high of $122,884 reached earlier in the week, according to Nansen data.
15 / 15
Harvey maintains that his base case scenario is a short consolidation phase at these levels. But he also mapped out a possible downside.
The Currency Analytics
Want the full story?