The market responded to July’s record highs in cryptocurrency market capitalization, led by Bitcoin, with a correction that pushed prices below the USD 115,000 resistance level in early August. This reflects a more conservative market environment compared to the previous year, when the value of Bitcoin rose by more than 100%.

As recently as December 2024, most cryptocurrency holders expected Bitcoin to reach or surpass USD 200,000 this year. According to an international survey conducted by BITmarkets, 58% of respondents held this view. Conversely, 18% disagreed. Just under a quarter (24%) said they were unsure. A total of 1,685 respondents from 58 countries took part in the poll.

Bitcoin Price Activity in 2024

“The recent decline can be attributed in large part to renewed macroeconomic pressure,” said Leon Okwatch from Crypto.news and explained: “The markets are now pricing in a longer period of high rates, which has reduced expectations for interest rate cuts due to strong U.S. economic data. This change has resulted in a decline in demand for riskier assets, such as cryptocurrencies, in favor of safer alternatives, such as bonds.”

Bitcoin Price Activity in 2025

The correlation between this year’s cryptocurrency price movements and the stock market — particularly the NASDAQ index — was also confirmed by a recent study by BITmarkets.