6 Reasons Behind Bitcoin’s Surge to Uncharted Territory: Can They Push BTC Even Higher?
2025-07-13 08:45:07
Main Idea
Bitcoin's recent price surge is attributed to significant ETF inflows, institutional accumulation, and broader market trends, with analysts suggesting potential for further upside but warning of possible corrections.
Key Points
1. Bitcoin's price surged to $119,000 after a period of muted movements, driven by strong ETF inflows and institutional buying.
2. US investors contributed over $2.7 billion in the past five trading days, with more than $2 billion spent on ETF shares on July 10 and 11 alone.
3. Large companies like Metaplanet, GameStop, and Semler Scientific have been accumulating BTC, following a trend set by MicroStrategy.
4. Smaller wallets (holding less than 100 BTC) have been acquiring over 19,000 BTC monthly, outpacing miner issuance of 13,400 BTC.
5. Analysts note that a weaker US dollar and favorable US policies have created a supportive backdrop for Bitcoin's rise.
6. Bitfinex analysts suggest Bitcoin could continue rising if ETF inflows remain strong and macro conditions stay favorable, but warn of potential corrections.
7. Technical indicators like the RSI above 70 indicate strong momentum, but divergences could signal fading momentum and possible corrections.
Description
Bitcoin’s price revival at the end of the business week caught many short traders off guard as the asset skyrocketed to a new all-time high of almost $119,000 following an extended period of muted movements. Although there was not one single big announcement that could have been related to the explosive rally, there are several reasons that were building up for weeks, which could be attributed to the new peak. Overall Accumulation The following reasons will be combined into one category of “over...
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