Hey there, crypto enthusiasts! If you’ve been keeping an eye on Bitcoin lately, you’re in for a treat. David Puell from ARK Invest recently dropped the June 2025 edition of The Bitcoin Monthly, titled "Range-Bound," and it’s packed with juicy insights. Posted on July 8, 2025, this report dives deep into Bitcoin’s current market behavior, on-chain metrics, and some big-picture economic trends. Let’s break it down in a way that’s easy to digest, even if you’re new to the crypto game.

What’s the Buzz About "Range-Bound"?

The term "range-bound" might sound technical, but it’s pretty straightforward. It means Bitcoin’s price has been hovering within a certain range rather than making big leaps or drops. Think of it like a car cruising steadily on a highway instead of speeding up or slowing down dramatically. According to the report, Bitcoin’s price at the end of June 2025 was sitting above some key levels: the short-term-holder (STH) cost basis ($98,888), the 200-day moving average ($96,278), and the on-chain mean ($71,393). That’s a solid sign the market is holding its ground, even if it’s not breaking new highs just yet.

On-Chain Data: The Heart of the Report

One of the coolest things about The Bitcoin Monthly is how it uses on-chain data—information straight from the Bitcoin blockchain—to paint a picture of what’s happening. For instance, the report highlights that long-term holders (LTHs) now control 74% of the total Bitcoin supply, the highest in 15 years! These are the folks who’ve held onto their Bitcoin for over 155 days, showing strong confidence in its future. It’s like the veterans of the crypto world are doubling down.

Another metric, MVRV Momentum, is hovering near zero. This is a bit of a warning signal—if Bitcoin’s price doesn’t keep climbing, this could turn negative, hinting at a potential pullback. It’s like a weather forecast for traders, suggesting they keep an eye on the horizon.

Macro Trends: Liquidity and Dominance

The report doesn’t stop at on-chain stats—it also looks at the bigger economic picture. Global liquidity, measured by the M2 supply (think cash, savings, and other money in the system), has hit a 12-year high at about $5.7 million per Bitcoin in circulation. This flood of money often correlates with Bitcoin price increases, so it’s a bullish sign for the long term.

Plus, Bitcoin dominance—its share of the total crypto market cap—has climbed to 65%, a level not seen since late 2020. This suggests more people are betting on Bitcoin over other cryptocurrencies, reinforcing its status as the king of crypto. It’s like Bitcoin is stealing the spotlight at a crowded party!

The Macro Backdrop: Dollars and Homes

On the macroeconomic front, the U.S. dollar has been surprisingly resilient, despite fears of weakness. The Federal Reserve’s broad trade-weighted index shows it’s holding firm, while inflation is trending downward. That’s a bit of a relief for anyone worried about a dollar collapse boosting Bitcoin.

Interestingly, the housing market adds another layer. Homeowners are still expecting price gains, even though new home sale prices are dropping. This disconnect could signal broader economic shifts that might influence Bitcoin’s trajectory. It’s a reminder that crypto doesn’t exist in a vacuum—it’s tied to the real world.

Why This Matters to You

Whether you’re a blockchain practitioner or just curious about memes and crypto (hello, Meme Insider readers!), this report offers valuable insights. For those building on Bitcoin’s tech, understanding on-chain trends like LTH supply can guide development decisions. For investors, the range-bound status and macro signals are key to timing the market. And for meme token fans, watching Bitcoin’s dominance could hint at when altcoins might get their moment to shine.

You can dive into the full report here to get all the details. It’s a goldmine for anyone looking to level up their crypto knowledge. What do you think—will Bitcoin break out of this range soon, or are we in for more steady cruising? Drop your thoughts in the comments, and let’s chat!