Coinbase Foresees Bullish Second Half for Bitcoin Amid Macro Shifts and RWA Growth

A constructive outlook is forming for the cryptocurrency markets heading into the latter half of the year, driven by an improving macroeconomic landscape, surging corporate adoption, and significant regulatory progress. According to a recent report from Coinbase Research, these converging factors are poised to fuel a rally, particularly for Bitcoin (BTC). After a period of economic uncertainty, recent data suggests a rebound in U.S. growth, with the Atlanta Fed’s GDPNow tracker projecting a robust 3.8% annualized growth for the second quarter. This optimistic forecast, combined with expectations of potential Federal Reserve rate cuts, has tempered recession fears and bolstered investor sentiment. The report also highlights that Bitcoin's appeal as an inflation hedge and a safeguard against declining dollar dominance could further amplify its upward momentum, even if U.S. Treasury yields remain elevated.

Despite the bullish long-term forecast, Bitcoin is currently navigating a phase of short-term consolidation. The BTCUSDT trading pair is priced at approximately $108,600.24, reflecting a minor 0.627% decline over the past 24 hours on relatively light volume. For traders, the immediate technical landscape is defined by the 24-hour high of $110,493.51, which serves as a critical resistance level, and the 24-hour low of $108,532.30, acting as a key support zone. A sustained break above this resistance would lend strong credence to the bullish macro thesis presented by Coinbase. Conversely, a failure to hold the support level could indicate a prolonged period of sideways trading before the next major directional move. The BTCUSDC pair shows a similar pattern, trading at $108,652.95 with a 0.638% dip.

Altcoin Market Shows Divergence as RWA Narrative Gains Traction

The outlook for altcoins appears more nuanced, with the Coinbase report suggesting they may lag behind Bitcoin unless propelled by specific catalysts like ETF approvals or major protocol developments. This divergence is evident in the current market dynamics. The ETHBTC pair, a key barometer of altcoin market strength relative to Bitcoin, has fallen 2.51% to 0.02330000. Other major altcoins are also facing headwinds against the US dollar. Solana (SOL) is trading at $150.62 on the SOLUSDT pair, down 1.646%, while Chainlink (LINK) has experienced a sharper decline of 3.618% to $13.32. However, there are notable exceptions. Avalanche (AVAX) is demonstrating significant relative strength, with the AVAXBTC pair surging 6.733% to 0.00022670, suggesting strong project-specific momentum that is attracting traders.

Beyond immediate price action, a powerful long-term structural trend is reshaping the institutional landscape: Real-World Asset (RWA) tokenization. As highlighted by market analyst QCompounding, this sector has moved well beyond its proof-of-concept phase, with over $20 billion in assets already tokenized by financial giants like BlackRock, KKR, and VanEck. This trend directly addresses the theme of growing corporate and institutional appetite for digital assets. The tokenization of traditional financial instruments, from private equity and bonds to real estate, on blockchain rails is no longer a hypothetical concept but a rapidly expanding reality. This evolution is building the foundational infrastructure for a more efficient, liquid, and globally accessible financial system.

The acceleration of RWA adoption is being driven by a confluence of key technological and market catalysts. Technologically, the maturation of Layer 1 and Layer 2 blockchains is drastically reducing transaction costs and improving the user experience. Simultaneously, advancements in smart contracts and the integration of on-chain identity protocols are enhancing security and streamlining compliance. From a market perspective, growing regulatory clarity in major jurisdictions like the U.S. and EU is providing the confidence needed for widespread institutional buy-in. The rise of tokenized treasuries as a superior, yield-bearing form of collateral and the expansion of stablecoins as a global settlement layer are further fueling this transformation. As institutions shift from asking *if* they should tokenize to *how fast* they can, this trend is set to unlock trillions in on-chain value, providing a powerful long-term tailwind for the entire digital asset ecosystem.