Bitcoin just smashed six consecutive all-time highs in two days, peaking at $118,668 on July 11—a 6.8% surge that’s defying expectations.
What’s Fueling the Rally?
✅ Fed Rate Cut Hopes: Markets betting on looser monetary policy
✅ ETF Inflows: Spot Bitcoin ETFs see massive institutional demand
✅ Technical Breakout: Cleared $111K resistance with ease
✅ Risk-On Sentiment: Stocks up, crypto following suit
Analysts now eye $120K as the next stop, with some predicting $130K–$140K by month’s end.
Bloomberg’s Mindset Shift
In a symbolic moment, Bloomberg Terminal now displays Bitcoin prices in millions (e.g., 0.118M = $118K). This isn’t just a UI tweak—it’s Wall Street acknowledging BTC as a macro asset.
As one observer noted:
“Showing BTC in millions isn’t just cosmetic—it’s traditional finance finally catching up to Bitcoin’s reality.”
On-Chain Data: Calm Before the Storm?
📈 Transactions up 7% (364K daily)
📈 No mass profit-taking (holders aren’t dumping)
📈 Liquidations hit $1.25B (speculative leverage wiped out)
This suggests strong underlying demand, not just hype.
What’s Next?
With institutions piling in and retail FOMO still muted, Bitcoin’s run could have plenty of fuel left. The big question:
- Short-term: Will $120K break this month?
- Long-term: Could seven-figure BTC valuations go mainstream?
