Bitcoin Soars to Fresh Record at $116K, Forecasts Hint at $130K by Fall
2025-07-11 04:03:11
Main Idea
Bitcoin surged to a record high of $116,664, with analysts forecasting a potential rise to $130,000 by fall, driven by market volatility and significant liquidations of leveraged positions.
Key Points
1. Bitcoin reached a new all-time high of $116,664, surpassing the previous record of $113,734, and is up 24% year-to-date.
2. Analysts predict Bitcoin could reach $130,000 by September, citing historical trends and current market signals.
3. Over $1.14 billion in leveraged crypto positions were liquidated in 24 hours, with $591 million from Bitcoin alone, predominantly affecting short traders.
4. Market volatility was influenced by Trump’s crypto-friendly policies and increased institutional interest, including Bitcoin ETF purchases totaling $15 billion since mid-April.
5. Upcoming events like the US CPI report and 'Crypto Week' in Washington are anticipated to impact the market further.
Description
Bitcoin surged to a record high of $116,664 on Thursday, lifted by accelerating institutional demand, surging ETF inflows and renewed political tailwinds from the Trump administration. The latest rally caught traders off guard and triggered the highest wave of liquidations in years, signaling a powerful shift in momentum. As of 11:15pm ET, Bitcoin had broken past the earlier high of $113,734 set just hours prior. The world’s largest cryptocurrency is now up roughly 24% year-to-date, with analyst...
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