Bitcoin News Today: Bitcoin Consolidates at $118,000 After All-Time High, Eyes July Surge

Bitcoin is currently experiencing a consolidation phase after reaching an all-time high of $123,200. The cryptocurrency's price has stabilized around the $118,000 level, with analysts suggesting that this pause is a natural response to the significant price increase. Michael Harvey, Head of Franchise Trading at Galaxy Digital, predicts that Bitcoin may consolidate around current prices before trending higher into the year-end. He expects a slow melt-up in the best-case scenario, with the possibility of another all-time high in July.

Institutional interest, reflected by ETF inflows, is a critical factor in Bitcoin's potential for a new all-time high. Market participants are closely monitoring shifts in treasury allocations and the onboarding of retail investors. Coinbase's rising app store ranking indicates growing consumer interest, despite subdued search trends. Historically, Bitcoin has consolidated following an all-time high before resuming upward momentum, provided demand remains robust through institutional and retail channels.

Robert Kiyosaki's insights highlight cautious optimism for Bitcoin's potential, advising small-scale accumulation for newcomers amid market volatility. The prospects for another all-time high could materialize if liquidity influx continues alongside increased investor confidence. Analysts suggest that the current consolidation phase is a momentary pause after recent gains, with broader implications for institutional and retail investor strategies.