Despite topping $111,000 in May, Bitcoin has struggled to sustain higher levels in recent weeks.
The slowdown could be due to long-term investors taking profits, according to Tom Lee, director of research at Fundstrat Global Advisors.
“We have clients who bought Bitcoin at $100. Even if Bitcoin goes to $1 million, they’ll probably sell at $100,000,” Lee said on CNBC’s “ETF Edge.”
While the Bitcoin price is stuck at psychological resistance levels, other areas of the cryptocurrency market continue to rise. While digital asset infrastructure providers stand out in this process, Coinbase shares in particular experienced their best month since November 2023, rising 40% in June. Coinbase also became the only stock to double its value in the S&P 500 index in the second quarter of 2025, closing its first three-month rise since 2023.
Factors that contributed to this rise include the Genius Act passed by the US Senate, Circle’s successful IPO, and the growing optimism towards stablecoins.
For crypto assets such as Ethereum and Solana, which have seen limited price increases throughout the year, investors are turning to alternative methods such as “staking” to make a profit. According to independent ETF expert Dave Nadig, thanks to staking, investors can make significant returns not only from price increases but also by contributing to blockchain networks. “These returns can often be several percentage points higher than classic fixed-income instruments,” he said.
Financial giants like BlackRock believe in the growth potential of staking. Speaking to CNBC, Johann Kerbrat, head of Robinhood’s crypto division, said the proliferation of Ethereum and Solana staking services is a significant step towards “mass adoption.”
Another notable trend is the preference for ETFs that provide the same exposure, rather than buying crypto assets directly. Nadig comments on this situation as follows: “Let’s be realistic, it’s much easier and cheaper to buy ETFs.”
Nadig added: “Bitcoin has moved from one wallet to another; this new wallet is now ETFs.”
*This is not investment advice.