Botanix: Bitcoin Layer-2 Network Shutdown Looms in July

Botanix will close its Bitcoin Layer-2 network in July, blaming insufficient DeFi demand on the chain.

BTC sits at $61838.42 inside its Bollinger Bands with the 50-EMA at $64017.76 acting as immediate resistance and the 200-EMA at $71269.19 capping any recovery. Momentum shows a MACD golden cross yet RSI at 45.66 keeps the structure firmly bearish, suggesting price will likely retest the lower band near $60700 before any sustained move higher. This technical backdrop aligns with muted developer activity across Bitcoin scaling projects and helps explain why demand for new DeFi primitives on Botanix never materialized.