Bitcoin Price Reaches Pivotal Moment—Is $120K Next?
2025-07-11 11:11:23
Main Idea
Bitcoin has surged to a new all-time high above $118,000, with significant trading volume and institutional interest, while Ethereum also saw a notable rise above $3,000, leading to large liquidations of short positions.
Key Points
1. Bitcoin surpassed $118,000, gaining 6.2% in the past day, with over $81 billion traded in 24 hours.
2. Binance's South Asia lead highlighted Bitcoin's rise as a pivotal moment for digital assets, noting institutional credibility.
3. Ethereum climbed 8.8% to top $3,000, driven by $383.1 million in U.S. ETF inflows and $258.6 million in short liquidations.
4. Bitcoin's open interest dropped by $1.58 billion, with over $1 billion in positions liquidated as prices hit new highs.
5. Ethereum's recovery marks a reversal from its March-April lows near $1,500, following Eric Trump's earlier endorsement.
Description
Bitcoin hit a new all-time high above $118,000 as institutions drove the rally—while analysts predicted a $120K target by month-end.
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