btc

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?

The U.S. Dollar Index (DXY) has hit a 21-year low, sitting 6.5 points below its 200-day moving average. This rare weakness often creates prime conditions for Bitcoin—and history suggests we might be on the verge of another major BTC surge.

Why a Weak Dollar Helps Bitcoin

📉 Inverse correlation: When the dollar falls, Bitcoin tends to rise
💰 Flight to alternatives: Investors seek assets like BTC during currency stress
📈 Past examples:

• 2022: DXY at 20-year high → BTC crashed to $16K
• Late 2023: Dollar fell → BTC rebounded to $40K+

Bitcoin’s Current Standoff

Despite favorable conditions:
🔸 Price: $108,712 (+0.2% in 24h)
🔸 Volume: Down 18% to $21.5B
🔸 Derivatives activity: Open interest dips to $73.4B

Technical signals:
✅ Trading above key moving averages (bullish trend)
✅ MACD turning positive (building momentum)
⚠️ RSI at 56 (neutral—neither overbought nor oversold)

What’s Next for BTC?

Bullish scenario: Break above $110,300 resistance
Bearish risk: Fall below $107,100 support

With the dollar weakening and volatility likely increasing, all eyes are on whether Bitcoin will:
🚀 Repeat history with a major rally
⏸️ Continue consolidating near all-time highs

Bitcoin’s struggle to hold above $105,000 has revealed a concerning trend: short-term holders (STHs) are accumulating BTC at an increasing rate. Data from Glassnode shows STH supply rebounded from 2.24M to 2.31M BTC in just days—a sign that often precedes near-term price weakness.

Why This Matters

• STHs (holders <155 days) are more likely to sell during volatility
• Long-term holders (LTHs) have reduced holdings by 0.13%, weakening market support
• Spot Bitcoin ETFs saw $342M outflows on July 1—first major pullback in weeks

Institutional Demand Still Strong

Despite recent outflows:
✅ 2025 ETF inflows total $13.4B
✅ BlackRock’s IBIT added $3.85B last month
✅ Figma holds 70M shares of Bitwise’s BITB ETF

Technical Outlook: Bears Gaining Control

📉 BBTrend shows growing selling pressure
📉 Whales took $2.6B profits on Binance (June 16)
📉 BTC underperformed S&P 500 & Nikkei in June

Key Levels to Watch:

• Support: $104,709 (if selling continues)
• Resistance: $107,745 → $109,310 (if demand returns)

What’s Next for Bitcoin?

July’s price action hinges on whether:
1️⃣ STHs hold or panic-sell
2️⃣ ETF flows rebound
3️⃣ Macro conditions improve

Bitcoin’s price has surged past $100,000, marking seven straight weeks of gains. But fresh data now hints that this impressive rally could soon hit a pause.

While predicting exact market reversals is tricky, there are growing signs that investors—especially late entrants—should approach with caution.

Large Wallets Start Distributing

One of the clearest signals comes from wallet activity. According to on-chain data from Glassnode, large holders—those with over 10,000 BTC—have reduced their accumulation significantly.

In early May, these wallets showed a strong accumulation score of around 0.8. However, that number has now dropped below 0.5. This change, shown in color shifts from blue to orange, points to active distribution.

Even wallets with balances between 1 BTC and 10,000 BTC are slowing down their accumulation. Only small wallets holding less than 1 BTC continue to buy aggressively—driven largely by FOMO as Bitcoin hits new highs.

This trend suggests that profit-taking is underway, especially among early institutional and whale investors.

UTXO Data Flags Market Overheating

Another red flag is emerging from Unspent Transaction Outputs (UTXOs). These represent the leftover Bitcoin after a transaction and are useful for analyzing unrealized profits in the market.

CryptoQuant data shows that nearly 99% of all UTXOs are currently in profit—a classic signal of an overheated market. Historically, such high profitability often precedes a price correction.

Crypto analyst Darkfost explained:

“When this 99% profit signal starts dropping, it often triggers more selling as unrealized gains disappear. That’s when latecomers tend to sell at a loss.”

Yet, despite these cautionary signs, Bitcoin hasn’t shown any major correction. Prices are currently hovering around $108,000.

Long-Term Outlook Remains Bullish

Even with potential short-term pullbacks, many experts remain confident in Bitcoin’s long-term growth. A key driver behind this confidence is a wave of institutional adoption.

These long-term trends could offset any short-term corrections, reinforcing Bitcoin’s growing role as a global store of value.

Final Thoughts

While some indicators point to a temporary cooldown in the Bitcoin rally, the broader market sentiment remains optimistic. Large investors may be locking in profits, but institutions and smaller buyers are stepping in—further fueling the market’s momentum.

Bitcoin breaks $110K for the first time, marking a major psychological milestone. The rally has sparked a fresh wave of demand from U.S. traders in both spot markets and investment products.

This renewed buying interest suggests that the top cryptocurrency may be on track for even higher price levels in the short term.

Surge in U.S. Bitcoin Interest

As Bitcoin’s price soared on Wednesday, the Coinbase Premium Index (CPI) spiked to its highest level in 24 days, according to CryptoQuant. The CPI tracks the price gap between Bitcoin on Coinbase (U.S.) and Binance (global). When the index rises above zero, it signals strong demand from U.S.-based investors.

The latest spike shows that buyers in the U.S. are willing to pay a premium for Bitcoin, further reinforcing bullish momentum.

Bitcoin ETF Inflows Hit $609M

Fueling the uptrend, Bitcoin spot ETFs saw massive inflows of $609 million on Wednesday. That’s an 85% jump from Tuesday’s $329 million inflow and marks the sixth consecutive day of positive net flows.

This inflow trend highlights increased confidence from both retail and institutional investors in regulated Bitcoin products.

BTC Price Outlook: More Upside Ahead?

At the time of writing, Bitcoin trades at $111,139, just slightly below its new all-time high of $111,888. Although it’s down 1% from the peak, buying pressure remains strong.

Technically, the Chaikin Money Flow (CMF) indicator stands at +0.30, signaling continued capital inflow. If momentum holds, Bitcoin may soon set a new record.

However, if selling pressure increases, BTC could drop toward $103,882, a key support level to watch.

Bitcoin surge momentum is back as the world’s largest cryptocurrency reclaims the $100,000 mark for the first time in months. At the time of writing, BTC is trading around $102,000, gaining nearly 4% in the past 24 hours.

On-Chain Indicators Flash Bullish for the First Time in Months

One of the most reliable signals of market sentiment—the CryptoQuant Bull-Bear Market Cycle Indicator—has finally flipped bullish. After flashing bearish since February 24, 2024, the tool now shows a positive shift.

Though the bullish coefficient is still low at 0.029, it marks the first green signal in over two months, suggesting a possible trend reversal.

More Bullish Confirmation Is Building

The 30-day moving average (Bull-Bear 30DMA) is starting to rise. Historically, when this line crosses above the 365-day average, it leads to strong parabolic growth in Bitcoin price. While the crossover hasn’t occurred yet, the upward slope is a good sign.

Further strengthening the outlook, realized price metrics by UTXO age bands reveal something rare—100% of Bitcoin holders are now in profit. This full profitability happened when BTC broke above $98,138, pulling even the last holdout group (those holding for 3–6 months) into the green.

According to Glassnode, over 3 million BTC have moved from loss to profit. This drop in underwater coins—from 5 million to 1.9 million—shows rising confidence among both short- and long-term holders.

Technical Analysis: $108K to $110K in Sight?

On the technical side, Bitcoin is now trading above the upper Bollinger Band, sitting near $102,747. This often signals short-term overbought conditions, but also reflects strong bullish momentum.

The lower band at $87,147 will serve as key support in case of a pullback. Meanwhile, the MACD remains firmly bullish, with the MACD line widening above the signal line.

If BTC can hold above $102,750, the next targets are $108,000 to $110,000, followed by the all-time high zone near $120,000. However, if Bitcoin fails to maintain above $100K or breaks below $94,947, it could retrace toward the $87,000–$90,000 support area.

Final Thoughts

The latest Bitcoin surge is backed by strong on-chain metrics and bullish technical indicators. With growing institutional and retail confidence, BTC might be gearing up for a new all-time high in the coming weeks.