Bitcoin: Here’s why $112K could be just the start of BTC’s rise!

Key Points

1. Bitcoin (BTC) reached a new all-time high of $111,936 on July 9, leading to fresh speculation about its future price movement.

2. Glassnode data shows BTC's realized cap surged by $4.4 billion to $976 billion, indicating real capital rotation into BTC, unlike May's leverage-driven rise.

3. Open Interest (OI) has not exceeded $80 billion this time, suggesting a divergence from the speculative froth seen in May.

4. Analysts project $130K as the next major target for BTC, with selling pressure remaining restrained and no broad profit-taking observed.

5. The next key resistance for BTC lies at $112,361, where a $17 million short liquidation cluster could trigger a sharp upside move.