🚀 Bitcoin Surpasses $118,000 – Binance Whales Trigger New ATH
On July 11, Bitcoin hit a new all-time high above $118,000. According to CryptoQuant, this rally was sparked by a major Binance whale.
🏦 Key Drivers:
Whale Activity on Binance:
CryptoQuant highlighted that a huge buy on Binance launched the rally — unlike past surges led by Coinbase whales, this time the move came from Binance.
Massive BTC Exchange Outflows:
Santiment reported that in the past 4 months, exchanges lost over 315,000 BTC. Bitcoin on centralized platforms is down 61% since July 2020.
📊 Growth Metrics:
MVRV Ratio: Now ~2.2 vs. ~2.7 in 2024 peaks, suggesting mechanical growth rather than a speculative bubble.
Liquidity & ETF Inflows:
$49B flowed into ETFs since April, signaling strong institutional demand.
Liquidations:
$1.1B in shorts were liquidated around $118K, adding fuel to the rally.
🔭 What’s Next?
Possible Corrections:
Analysts, including CZ, warn of short-term pullbacks, but the overall trend stays bullish.
Political Factors:
Weakening dollar and expectations around the GENIUS Act support BTC demand via ETFs.
Whale Accumulation:
Dormant wallets are moving again — 17,283 BTC transferred in 24h, signaling whale activity.
✅ Conclusion:
Bitcoin’s ATH was driven by smart Binance whale buys, not retail hype. Institutional demand, exchange outflows, and ETF liquidity support this rally. However, corrections are possible after such sharp moves.
❓ Poll:
Will Bitcoin keep rising beyond $120K?
1️⃣ 🚀 Yes, this is just the beginning
2️⃣ ⏳ Minor correction expected
3️⃣ 🛑 Possible drop to $110K