$BTC Bitcoin once again broke through the historical high, once reaching $118,000. Although it fell slightly to $117,838 in the afternoon, the increase in the past 24 hours still reached 5.9%, and market sentiment continued to heat up.
The core driving force of this wave of rise still comes from the strong inflow of the US version of the spot ETF - the net inflow in a single day was as high as $1.18 billion, the second highest since its listing, which shows that institutional funds are accelerating into the market. Behind this is not only the boost to the Fed's expectations of interest rate cuts, but also the re-recognition of Bitcoin's "gold-like" asset attributes.
In the context of a relatively stable overall macro environment, Bitcoin is being included in the asset allocation logic of more and more traditional financial institutions. The existence of ETFs has further lowered the threshold, allowing more funds to quickly and unimpededly complete the entry action.
However, we still need to be vigilant about short-term variables, especially the US CPI data on July 15. If inflation exceeds expectations, it is not ruled out that the market will take the opportunity to take profits, and short-term fluctuations may intensify. But the medium- and long-term logic is still clear, and the horn of the big bull market may have quietly sounded.
