$BTC Price Snapshot & Market Context

• Current price on Binance spot is about $110,985, recently hitting an intraday high near $111,748 and a low near $108,622

• Binance shows a new ATH above $112K (BTC/USDT), driven by short squeezes and institutional inflows

• Global sentiment remains strong amid macro support (Fed rate-cut hopes, weak USD), boosting BTC’s position as a safe-haven asset ().

🚀 Key Drivers Behind the Move

1. Near-record high (~$112K)

BTC reached record levels on Binance and other platforms as investors closed short positions—around $200M+ liquidated

2. Positive macro backdrop

Fed minutes suggest rate cuts; USD weakened—adding momentum to risk assets like BTC

3. Institutional momentum

Spot ETFs have drawn billions in inflows, and over 135 companies hold

According to Odaily, CryptoQuant reported on the X platform that Strategy (MSTR) disclosed in a filing with the U.S. Securities and Exchange Commission that as of June 30, 2025, the company holds 597,000 bitcoins, purchased for $42.4 billion and currently valued at $64.4 billion. However, new accounting rules under ASU 2023-08 require companies to report bitcoin assets at fair value, even if not sold, potentially triggering a 15% corporate alternative minimum tax (CAMT) starting in 2026. Strategy indicated in the filing that the company "may need to liquidate some of its bitcoin holdings or issue additional debt or equity securities to raise sufficient cash to meet tax obligations." This suggests that tax pressures might compel Strategy to sell part of its bitcoin holdings in the future to address actual tax bills arising from unrealized gains.