Bitcoin shattered key resistance levels to hit an unprecedented intraday high of $112,000 on Binance, driven by accelerating institutional demand and shifting monetary policy expectations. This rally eclipsed previous peaks set in May as technical barriers collapsed under intense buying pressure.
The Federal Reserve’s June FOMC minutes revealed unified backing for at least one interest rate reduction by year-end, increasing Bitcoin’s appeal as a non-yielding alternative asset. Market analysts noted the central bank’s dovish tilt significantly boosted cryptocurrency market sentiment during the surge.
Simultaneously, U.S. spot Bitcoin ETFs have attracted over $13 billion in net inflows since April, creating substantial price support. This sustained institutional participation provides critical liquidity for upward momentum while signaling growing mainstream adoption of digital assets.
Technical indicators now suggest potential for further appreciation as bullish chart patterns emerge. The convergence of expanding ETF volumes, institutional accumulation, and a weakening U.S. dollar amid persistent inflation strengthens Bitcoin’s fundamental positioning as a macroeconomic hedge.