Hi. I’m Andy Baehr with the CoinDesk Indices team.
Question: Bitcoin is stuck in a range. Is that a bad thing or a good thing?
Even casual BTC watchers will have noted the ten percent channel that has held for more than a month. As of today, in fact, it has been 40 days since we entered the ~$101K – ~$111K range, with no catalyst forcing a breakout through either boundary. Good or bad thing?
The macro muddle supports range-trading. Our anchor bitcoin macro factor remains expectations for future real interest rates–nominal rates minus inflation. Recent cross-currents create an unclear picture: inflation expectations from surveys have been elevated (though recent releases seem less concerning), while hopes for Fed relief were dim until the market began pricing in two 2025 cuts more assertively. Too muddled for a breakout. Bitcoin is doing what it should.
For the store-of-value thesis, range-trading is actually fine. As bitcoin accumulates more days of „not unexpected” behavior, it s
We współpracy z: https://www.coindesk.com/opinion/2025/06/16/home-on-the-btc-range
