The Bull vs Bear Battle of Bitcoin Intensifies: Institutional Inflows and Macro Pressures Intertwine, Dominance Rises to 59.5%

In the second half of 2025, the Bitcoin market experienced significant fluctuations due to the entry of institutional funds and macroeconomic risk disturbances, with the dominance rate rising to 59.5%, and the Bull vs Bear Battle continuing to escalate.

At the institutional level, there is a clear trend of funds concentrating towards leading assets: institutions collectively hold 3.64 million Bitcoins (accounting for 17% of the total), with listed companies like MicroStrategy continuously increasing their holdings, and spot ETFs becoming the core funding channel, with a significant increase in monthly net purchases.

Macroeconomic and geopolitical factors have triggered short-term fluctuations: The Federal Reserve's hawkish signals caused Bitcoin to plummet over 9% from its historical peak, breaking below the support level of $113,000, with over $500 million in leveraged positions liquidated; global trade tensions further amplify market uncertainty.

Regulatory and technological aspects are a mixed bag: the United States has passed multiple cryptocurrency-related bills, clarifying the regulatory framework; however, the existing cryptographic mechanisms of Bit are facing the risk of being cracked by quantum computing, leading to long-term disputes. Institutions generally view the strengthening of its "digital gold" properties during the interest rate cut cycle positively, while short-term attention should be paid to the Federal Reserve's policy statements and the progress of deleveraging.
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