Bitcoin has surged to a new all-time high above $118,000, with prices reaching approximately $118,086.08 to $118,441.47, reflecting a 6.25-6.56% gain in the last 24 hours, driven by strong institutional buying, spot ETF inflows of over $50 billion, and positive market sentiment fueled by a tech rally and favorable macroeconomic conditions. The 14-day RSI around 75 indicates overbought conditions, suggesting a potential short-term pullback, but bullish momentum remains robust, supported by corporate treasury accumulation (e.g., Strategy Inc holding 576,230 BTC) and a shrinking available supply due to long-term holder.

Price Prediction for Next 24 Hours: Bitcoin is likely to trade between $115,000 and $122,000 in the next 24 hours (by July 12, 2025, 11:42 AM PKT). A minor correction to $115,000-$116,000 is possible due to overbought conditions and potential profit-taking, as warned by Coinglass data indicating $823 million in short liquidations if prices hold above $118,000. However, sustained institutional demand and positive sentiment could push Bitcoin toward $120,000-$122,000, with analysts eyeing $125,000 as the next psychological target if momentum continues. Key support lies at $107,000, and resistance is near $118,893-$120,000.

Note: Cryptocurrency prices are highly volatile, and predictions are speculative. Always verify real-time data from trusted platforms before making investment decisions.