Bitcoin Surges Past $111,000 Amid Coinbase Downtime and Growing Institutional ETF Inflows

Key Points

1. Bitcoin (BTC) surged beyond $111,000 during Asian trading, linked to Coinbase’s unexpected downtime, reinforcing a market dynamic where technical disruptions are seen as bullish signals.

2. Coinbase outages historically coincide with heightened trading volumes and price rallies, with crypto enthusiasts on X spreading bullish sentiment.

3. Bitcoin spot ETFs recorded net inflows of $218 million on July 9, marking the fifth consecutive day of accumulation, boosting market confidence.

4. Market sentiment remains positive despite Coinbase’s downtime, with traders viewing it as a potential catalyst for further price increases.

5. Bitcoin’s rally was supported by a 24-hour gain of approximately 2.5%, setting a new all-time high of $111,999 on Binance.