Bitcoin breaks 116,000 dollars, shorts suffer heavy losses
Bitcoin sets a new historical high record again! After breaking through 113,800 dollars last night, Bitcoin continued to rise and once again surpassed the 116,000 dollar mark today.
TradingView's latest market data shows that as of this morning (7/11), Bitcoin reached a recent high of 116,868 dollars within the last 24 hours, currently quoted at 115,959 dollars, with a daily increase of 4.3%.
This surge in Bitcoin has driven the overall cryptocurrency market, causing significant losses for short-sellers.
CoinGlass data shows that in the last 24 hours, a total of 1.13 billion dollars in perpetual contracts across all cryptocurrencies have been liquidated, with shorts (sell orders) accounting for over 1 billion dollars of that.
Source: CoinGlass Bitcoin breaks 116,000 dollars, shorts suffer heavy losses
What is the reason for Bitcoin's continuous rise? Institutional funds are the main driving force
Analysts generally believe that the continuous influx of institutional investors is a key factor driving Bitcoin prices to new highs.
According to (Decrypt), since July this year, the cumulative inflow of funds into US Bitcoin spot ETFs has exceeded 50 billion dollars, with continued institutional buying providing critical support during any pullbacks.
Blockchain analysis firm Glassnode pointed out that after Bitcoin broke 113,000 dollars, it achieved a market capitalization increase of 4.4 billion dollars, indicating active investor engagement rather than mere speculative rises.
Crypto trader Credible Crypto analyzed that over 80% of all circulating Bitcoin is held by long-term holders, and the adoption of Bitcoin as corporate reserves is accelerating the supply tightness.
Among them, Strategy (formerly MicroStrategy) holds over 597,325 Bitcoins, while in the second quarter of 2025, many listed companies such as Marathon, Meta Planet, and GameStop also joined the list of companies adopting Bitcoin reserve strategies, adding a total of 159,107 Bitcoins to their balance sheets, setting a record for the highest acquisition volume in history.
Analysts are bullish on the future market, with target prices looking at 130,000 to 150,000 dollars
In the face of Bitcoin continuously reaching new highs, several analysts are optimistic about future performance.
According to (Cointelegraph), CryptoQuant analyst Axel Adler Jr. pointed out that when the Market Value to Realized Value ratio (MVRV) reaches 2.75, the corresponding Bitcoin price is about 130,900 dollars, which could be an important profit-taking point and may also be seen as a potential resistance level.
However, Axel Adler Jr. also warned that when the returns for long-term holders exceed 300%, the market will start to see sell-offs. Currently, the average profit rate is 215%, which is in the range suitable for orderly profit-taking and potential large sell-offs by long-term holders.
Kyle Reidhead, co-founder of Milk Road, is relatively optimistic; when Bitcoin surged close to 112,000 dollars yesterday, he predicted that Bitcoin would soon challenge the 150,000 dollar level.
Source: X market analyst Axel Adler Jr. analyzes Bitcoin MVRV
This content is generated by Crypto Agent summarizing various information, reviewed and edited by (Crypto City). It is still in the training phase and may have logical biases or information errors. The content is for reference only and should not be considered investment advice.
The article titled 'Bitcoin surges to 116,000 and keeps climbing! The shorts face a liquidation of 1 billion dollars, analysts reveal the next target price' was first published in 'Crypto City'
