As of July 11, 2025, Bitcoin (BTC) is experiencing a strong bullish surge, reaching new all-time highs:
Current Price: Around $117,786 per BTC, up about 1.55% on the day, with an intraday high near $118,780.
Market Cap: Approximately $2.33 trillion, reflecting significant institutional and retail interest.
Trading Volume: High, with 24-hour volume exceeding $124 billion, indicating robust market activity.
Key Drivers Behind Today’s Bitcoin Rally:
New All-Time High: Bitcoin recently surpassed its previous record, hitting nearly $118,800, fueling bullish momentum.
Massive Short Squeeze: Over $1 billion in short positions were liquidated within 24 hours, including around $570 million in Bitcoin shorts, accelerating the price rally.
ETF Inflows: US spot Bitcoin ETFs have seen substantial inflows (around $50 billion this week), signaling strong institutional demand.
Technical Breakout: Technical indicators show a strong bullish trend, with Bitcoin targeting levels above $126-130K,
Macro Environment: The US dollar is weakening sharply (its worst performance since 1973), boosting risk assets like Bitcoin.
Growing Adoption: Corporate treasury purchases and positive regulatory developments in the US are enhancing investor confidence.
Market Sentiment and Outlook:
The Relative Strength Index (RSI) is above 70, indicating strong bullish momentum but also suggesting caution for a possible short-term pullback.
The number of Bitcoin wallets holding BTC has increased significantly, showing renewed accumulation by investors.
Technical Outlook Bullish, target $120K+
Bitcoin’s rally today is driven by a powerful combination of technical breakout, institutional buying, short squeeze dynamics, and supportive macroeconomic factors, making it one of the strongest moves in crypto markets this year.
#BTC #BITCOIN
Current Price: Around $117,786 per BTC, up about 1.55% on the day, with an intraday high near $118,780.
Market Cap: Approximately $2.33 trillion, reflecting significant institutional and retail interest.
Trading Volume: High, with 24-hour volume exceeding $124 billion, indicating robust market activity.
Key Drivers Behind Today’s Bitcoin Rally:
New All-Time High: Bitcoin recently surpassed its previous record, hitting nearly $118,800, fueling bullish momentum.
Massive Short Squeeze: Over $1 billion in short positions were liquidated within 24 hours, including around $570 million in Bitcoin shorts, accelerating the price rally.
ETF Inflows: US spot Bitcoin ETFs have seen substantial inflows (around $50 billion this week), signaling strong institutional demand.
Technical Breakout: Technical indicators show a strong bullish trend, with Bitcoin targeting levels above $126-130K,
Macro Environment: The US dollar is weakening sharply (its worst performance since 1973), boosting risk assets like Bitcoin.
Growing Adoption: Corporate treasury purchases and positive regulatory developments in the US are enhancing investor confidence.
Market Sentiment and Outlook:
The Relative Strength Index (RSI) is above 70, indicating strong bullish momentum but also suggesting caution for a possible short-term pullback.
The number of Bitcoin wallets holding BTC has increased significantly, showing renewed accumulation by investors.
Technical Outlook Bullish, target $120K+
Bitcoin’s rally today is driven by a powerful combination of technical breakout, institutional buying, short squeeze dynamics, and supportive macroeconomic factors, making it one of the strongest moves in crypto markets this year.
#BTC #BITCOIN
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.