$BTC macroeconomic trends and increased global liquidity at the beginning of the year, said Ilya Sivoplyas, head of exchange trading at the cryptocurrency platform WhiteBird, to Izvestia on June 10.
"The main drivers of this growth were formed back in the first quarter and were largely related to global macroeconomic dynamics. A strong impulse for Bitcoin was given by the expansion of global liquidity observed in the first quarter of 2025," Sivoplyas explained.
He noted that cryptocurrency is traditionally sensitive to changes in the money supply, but price reactions occur with a delay of two to three months. This time lag explains the price dynamics in the second quarter. Additionally, the market began to take into account the possible easing of trade restrictions, which supported demand for risky assets, including Bitcoin. However, at the end of May, global liquidity began to decline, and if this trend continues, it may put pressure on the cryptocurrency's exchange rate.
"Moreover, the economic effect of tariffs will become apparent in the third quarter through deteriorating economic data," the specialist warned.
According to him, in the next one to three months, a shift to more cautious market sentiments is possible, which could provoke a correction in Bitcoin.
Nevertheless, the medium-term forecast remains optimistic.
"The cycle of global liquidity growth, in our opinion, is not yet complete and is likely to continue in the second half of the year. Trade restrictions will probably lead not to a recession but to a moderate slowdown in the economy, which will not prevent Bitcoin from continuing to grow in the 6-12 month outlook," Sivoplyas summarized.
