“Coiled Like a Spring”: Why Analysts See Bitcoin Heading to $170,000 Next
2025-07-11 09:15:21
Main Idea
Bitcoin has reached a new all-time high of $118,404, with analysts predicting a potential rise to $170,000 due to increasing institutional demand and supply constraints.
Key Points
1. Bitcoin surged to a record price of $118,404, leading a market-wide rally.
2. Analysts predict Bitcoin could reach $170,000, driven by skyrocketing demand and diminishing supply.
3. Institutional buying, including corporate treasuries and spot ETFs, contributed significantly to demand, with 160,000 Bitcoins bought by companies in Q2 2025.
4. Spot ETF issuers like BlackRock and Fidelity acquired 111,411 BTC, while miners produced only 40,950 BTC in the same period.
5. The market is described as 'coiled like a spring,' indicating potential for further price increases.
Description
Bitcoin has surged to a new all-time high of $118,404, leading a powerful, market-wide rally The rally is fueled by a massive supply squeeze, with institutions buying 6x more BTC than miners produced in Q2 Analysts are now eyeing higher targets, with some suggesting a potential move toward $170,000 The cryptocurrency market resumed its rally this week as nearly all the top assets broke out of bearish pressure to deliver significant gains. Bitcoin, the largest cryptocurrency by market cap, led th...
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