Bitcoin’s Price Surge Sets New Milestones

Key Points

1. Bitcoin's price surged over 10%, peaking at USD 120,947 and achieving an all-time high, with no clear signs of the upward trend ending.

2. CryptoQuant analysts note no significant market overheating, and 10X Research highlights Bitcoin's role as a hedge against U.S. budget deficit spending.

3. Spot Bitcoin ETFs, particularly BlackRock's IBIT fund, have amassed $80 billion, with U.S. ETFs now holding 1,268,094 Bitcoin (6% of total supply), valued at $153 billion.

4. Experts attribute Bitcoin's value surge to its growing role as a macro asset, with the upcoming FOMC meeting on July 30 being a key event to watch.

5. The rapid growth of ETFs and Bitcoin's increasing institutional adoption suggest a shift in its perception from a speculative asset to a key player in the global financial system.