Bitcoin is roaring close to its all-time high, and the excitement in the crypto market is through the roof! OKX's USDT yields skyrocketed to an incredible 53% today, Friday, July 11, 2025, signaling the return of bullish volatility this third quarter.
What's happening with Bitcoin?
* Massive short liquidation! Over $1.14 billion in short positions were annihilated in the last 24 hours as Bitcoin surpassed $118,000. The bears are suffering!
* Strategic miners: Transfers of Bitcoin from miners to exchanges increased when the price surpassed $113,000, suggesting a potential profit-taking before what is known as "crypto week in the U.S.", or simply to cover costs.
* HODLers in control: Only 15% of Bitcoin holders bought in the last month, indicating that the bullish trend is driven by existing holders and not by a new massive influx of capital. Long-term confidence!
* Less Bitcoin on exchanges: Bitcoin balances on exchanges have fallen by 21% since June, and an impressive 61% over the last five years, with coins moving to self-custody wallets. This reduces selling pressure!
Key Bullish Signals:
* Optimistic SOPR: The Spent Output Profit Ratio (SOPR) shows that recent buyers are not selling, keeping downward pressure contained.
* Rising Open Interest: Open interest (OI) in Bitcoin derivatives has risen to $41.177 billion, a 5.67% increase. More liquidity and attention in the futures market anticipate greater volatility!
* Glassnode confirms it: A jump of $4.4 billion in Bitcoin's realized capitalization after surpassing $113,000, according to Glassnode, indicates real conviction behind the price movement, not just speculation.
* Next stop: $130,900? The current MVRV (Market Value to Realized Value) ratio is 2.2. Analysts like Axel Adler Jr. suggest that the tipping point for a sell-off occurs at MVRV 2.75, which could lead Bitcoin to reach $130,900, a 17% increase above its ATH!
The Bitcoin market is hot and signals point to a possible continuation of the rally! Stay tuned!
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