Bitcoin $BTC is at a crossroads: after reaching an all-time high of $111,891 on May 22, 2025, its price has retraced and currently sits around $105,554.
This stagnation has generated concern among investors, especially after observing three consecutive days of net outflows in Bitcoin ETFs, totaling more than $250 million.
Despite these bearish signals, the macroeconomic landscape offers some relief. The personal consumption expenditures (PCE) index showed an inflation rate of 2.1% in April, indicating a moderation in prices.
In addition, Federal Reserve officials, such as Austan Goolsbee, have indicated the possibility of interest rate cuts in the coming months, provided economic conditions allow.
In this context, Bitcoin faces opposing forces: while institutional flows and macroeconomic conditions could support a bullish medium-term outlook, the current uncertainty and recent capital outflows suggest the possibility of a healthy correction before establishing a more sustainable trend.
