Bitcoin just logged its most explosive move of 2025 — surging 55% since April to reach a record high above $117,000.

This historic rally was supercharged by the largest short-side liquidation event of the year, with over $1.01 billion in short positions wiped out in a single day. In total, 237,000 traders were liquidated, with one of the biggest hits being an $88.5 million BTC-USDT short on HTX.

The move coincides with macro tailwinds, including the U.S. dollar’s worst first-half performance since 1973, falling nearly 11% over the past six months. The timing suggests a rotation from fiat into crypto, with Bitcoin emerging as a preferred hedge.

Technically, BTC’s daily chart shows strong bullish momentum. EMAs are trending upward, MACD is expanding, and price continues to close at new highs. However, RSI signals that the market is now overbought, and significant ask walls between $117K and $117.4K suggest near-term resistance.

Whether Bitcoin consolidates or breaks even higher depends on how it handles these zones. With macro and on-chain dynamics aligning, volatility ahead is almost guaranteed.

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Read the full analysis: www.ecoinimist.com/2025/07/11/bitcoin-crushes-117-k-as-dollar-crumbles/# #