The momentum in Bitcoin's price has reached its weakest point since March, as indicated by a key metric. The Z-score of Bitcoin to its 200-Day Moving Average has fallen below 1.0 and has remained relatively low in recent days. This means that the current Bitcoin price is only slightly above one standard deviation from its average daily closing price over the past 200 days. The decline in price momentum comes as traders take profits after an impressive rally this year and adopt a more cautious outlook for Bitcoin's future. Factors such as uncertainty surrounding US crypto regulations and the potential interest rate cuts by the Federal Reserve in the second half of the year have contributed to this sentiment. Additionally, high transaction fees and increased block space demand have deterred traditional usage of Bitcoin as a digital currency ledger. While daily transactions have surged to record highs, active daily users and new addresses interacting with the blockchain have significantly declined in recent weeks. The current situation raises questions about the future trajectory of Bitcoin and the challenges it faces in the near term.