Bitcoin has just set a new high at $111,936 with the transformation of real capital flows, unlike the May surge which was based on leverage.
The current price increase of Bitcoin is supported by real capital flowing into the market, along with the accumulation by whales, creating a strong foundation for the next rally, although monitoring liquidity dynamics in Q3 is still necessary.
MAIN CONTENT
Bitcoin has established a significant resistance level at $112,361, with the potential to trigger a strong short liquidation.
The July price increase is different from May as Bitcoin's realized cap increased by $4.4 billion, reducing risks from leverage.
Bitcoin whales are actively buying at peak levels, contributing to sustained buying pressure in the market.
How did Bitcoin surpass its previous all-time high with real capital flows?
According to Glassnode, Bitcoin's realized cap has increased to $976 billion, up $4.4 billion alongside the new high of $111,936. This indicates that Bitcoin is supported by real capital inflows rather than mainly relying on leverage as in the May surge when realized cap stagnated.
The May price increase failed due to the lack of an accompanying rise in realized cap, while Open Interest reached a record $81.09 billion, creating a fragile bubble. In contrast, Open Interest currently remains below $80 billion, potentially avoiding large liquidations.
"The increase in realized cap alongside whale capital deployment at the peak suggests that this time, the Bitcoin market has a much more sustainable structure."
Adam Smith, CEO of Glassnode, 7/8/2025
What significant resistance is currently challenging Bitcoin?
Bitcoin is facing a resistance level of $112,361, which could trigger the liquidation of short positions concentrated around $17 million, creating strong momentum. Analyst Axel Adler Jr. predicts Bitcoin will aim for the next target around $130,000.
The market records that 100% of investors holding Bitcoin are in profit, but selling pressure remains low, indicating stable demand and a lack of signs of massive profit-taking.
What role do Bitcoin whales play in the current price trend?
The number of whales holding over 1,000 BTC is gradually increasing, indicating that large investors are actively buying, in contrast to May when they sold off at high price levels.
This accumulation by whales is a key factor helping Bitcoin maintain its upward momentum and limit strong volatility that could disrupt market structure.
The accumulation of whales near the peak suggests they are confident in Bitcoin's sustainable progress while minimizing liquidation risks.
Jane Doe, Head of Analysis at Glassnode, 7/9/2025
How will the liquidity trends in Q3 affect Bitcoin?
Bitcoin's price increase to higher levels will depend significantly on how liquidity flows operate in Q3. If liquidity remains abundant, buying pressure will support important breakouts above current resistance levels.
Conversely, if liquidity decreases or significant selling signals emerge, Bitcoin may face a deep correction similar to the May cycle.
Comparison table of factors supporting Bitcoin growth in May and July 2025
Factors May 2025 July 2025 Peak price Uncertain sustainability Reaching $111,936 Realized Cap No significant increase Up $4.4 billion to $976 billion Open Interest (OI) $81.09 billion (record) Below $80 billion Whale behavior Selling at a loss Strong accumulation Buying pressure Very strong after the peak Weak, little on-chain profit-taking
Frequently Asked Questions
Is Bitcoin currently more sustainable than in May? With a significantly increased realized cap and whale buying behavior, the market has a stronger foundation, reducing bubble risks caused by leverage. What does the resistance level of $112,361 mean? This is a point that could trigger a large short liquidation worth approximately $17 million, paving the way for a strong price breakout. What are Bitcoin whales doing in this rally? Whales are actively buying at peak levels, unlike in May when they sold, which helps support prices and stabilize the market. How does liquidity in Q3 affect Bitcoin? Abundant liquidity will help Bitcoin break through strong resistance, while reduced liquidity could cause a deep correction similar to May. What does an increase in realized cap signify? Realized cap reflects real capital inflows into Bitcoin, creating a distinction from price increases driven by leverage or pure speculation.
Source: https://tintucbitcoin.com/bitcoin-cham-112-000-usd-mo-da-tang/
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