Bitcoin Shatters Records: Surges Past $118,000 in Historic Rally
Bitcoin smashes all-time highs above $118,000! Discover the driving forces behind the surge, expert predictions, and what this means for the crypto market.
Crypto World: Bitcoin Flies to New All-Time Highs, Topping $118,000
What’s Fueling the Rally?
- Institutional Tsunami:Spot Bitcoin ETFs recorded $2.8B in net inflows this week as giants like BlackRock and Fidelity expand exposure.
- Macroeconomic Shift:With the U.S. dollar index (DXY) plunging to 3-month lows, investors flock to Bitcoin as an inflation hedge.
- Supply Squeeze:Over 88% of Bitcoin’s circulating supply hasn’t moved in 6 months—the highest hodling rate in history.
Expert Reactions
"This isn’t just FOMO—it’s a fundamental reassessment of Bitcoin as digital gold," states Raoul Pal, CEO of Real Vision.
JPMorgan analysts revised their 2025 BTC target to $150,000, citing "accelerated institutional adoption."
Altcoins Riding the Wave
Ethereum (ETH): +12% (trading at $7,200)
Solana (SOL): +22% amid NFT volume resurgence
Meme coins: Dogecoin (DOGE) and Shiba Inu (SHIB) gained 30% collectively
Critical Technical Indicators
Metric | Current Value | Significance |
---|---|---|
RSI (Daily) | 78 | Near overbought territory |
Fear & Greed Index | 92 (Extreme Greed) | Highest since 2021 peak |
24H Trading Volume | $98B | 3x monthly average |
Why $118,000 Matters
Psychological Barrier: Shatters the "double top" resistance at $110K that haunted 2024.
Miners’ Breakthrough: Mining profitability hits record highs at $0.38 per TH/s.
Global Adoption: Japan and UAE national banks announced Bitcoin treasury allocations this week.
Risks on the Horizon
What’s Next?
Short-Term: Consolidation expected near $115K as derivatives cool
2025 Projections: Standard Chartered forecasts $200K if ETF inflows sustain
Gamechanger: Bitcoin’s upcoming "Stratum V2" upgrade could slash energy use by 40%
(Data sourced from CoinGecko, Glassnode, and TradingView as of July 11, 2025)
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