Bitcoin achieved a historic breakthrough by surging past $112,000, propelled by accelerating institutional adoption and robust treasury allocations. The cryptocurrency set this new all-time high on July 9, substantially strengthening market sentiment across digital assets.
Significant capital flowed into US-listed spot Bitcoin exchange-traded funds last week, with investments exceeding $1.5 billion contributing to BTC’s upward momentum. Digital asset-focused equities including Coinbase Global and MicroStrategy surged approximately 5% in tandem with Bitcoin’s breakout.
Market dynamics showed strong bullish conviction as leveraged short positions suffered $340 million in liquidations. The rally catalyzed positive momentum throughout the crypto landscape, driving heightened leveraged trading activity in altcoins such as Solana (SOL).