Bitcoin's recent rally, which saw it rise nearly 41% from its low in April, is showing signs of slowing down as buying pressure decreases and profit-taking among traders increases. Bitfinex analysts noted that this decline in spot volume and weakened taker buy pressure may indicate a local top rather than a continuation of the upward trend. They emphasized that the future price movement of Bitcoin will largely be influenced by macroeconomic factors and institutional demand, notably from Bitcoin ETFs, which have recently experienced substantial inflows. USD-based spot Bitcoin ETFs have recorded 14 consecutive days of inflows, amounting to $4.63 billion. Analysts are also watching the Federal Reserve's upcoming interest rate decision, as lower rates could be beneficial for Bitcoin. Despite current uncertainties, the overall market structure remains strong, with higher time frame support levels intact. Some experts remain optimistic, suggesting that Bitcoin may be on the verge of further gains if long-term holders cease selling.

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