According to @CryptoMichNL, Bitcoin (BTC) has been the primary driver of the cryptocurrency market in the first half of 2025, posting a 13% gain while the total market capitalization grew by a modest 3%. In stark contrast, major altcoins have underperformed significantly, with Ethereum (ETH) dropping 25% and Solana (SOL) falling nearly 17%. The source highlights that Bitcoin is currently trading less than 3% below its all-time high, propelled by strong macroeconomic tailwinds such as record U.S. equity indexes and a surging M2 money supply, which now stands at a record $21.9 trillion. Analyst outlooks for the second half of the year are mixed. Joel Kruger of LMAX Group is optimistic, citing July's historically strong average returns of 7.56% for crypto since 2013. Coinbase analysts also maintain a positive view, pointing to potential Federal Reserve rate cuts and increasing regulatory clarity in the U.S. However, Bitfinex analysts have issued a caution, noting that the upcoming quarter has historically been the weakest for BTC, suggesting a period of range-bound price action.