On July 11, Beijing time, the cryptocurrency world completely exploded! Bitcoin surged like a runaway horse, with prices soaring to $118,865, a daily increase of over 6%, breaking historical records! This not only represents the strongest rally since the Bitcoin halving in 2024 but also brings the prophecy of '$130,000' from a distant fantasy to a reachable reality. In an instant, global capital flocked into the crypto market, while three major positive factors are pushing this bull market towards an unprecedented epic climax!
1. Institutions are scrambling for coins: BlackRock leads the 'coin hoarding battle'.
A series of data is astonishing: BlackRock's Bitcoin ETF (IBIT) has seen holdings surpass 700,000 coins, with a total value exceeding $75.5 billion! On July 10 alone, the U.S. spot Bitcoin ETF saw a net inflow of $1.176 billion, with six consecutive days of aggressive buying! Even more astonishing, the number of listed companies holding Bitcoin has continued to grow, now reaching 125, with 46 new companies added this quarter, accumulating a total holding of 847,000 coins, a month-on-month increase of 60%!
The logic behind it is clear: traditional capital is no longer hesitating; from pension funds to family offices, Bitcoin is seen as 'digital gold'. BlackRock's IBIT has even surpassed the annual management fee income of the S&P 500 ETF, directly igniting Wall Street's 'fear of missing out (FOMO)' sentiment.
Morgan Stanley sends a key signal: if short positions continue to close (currently short positions are still as high as 42%), the market could trigger a 'chain squeeze' effect, pushing Bitcoin's price directly to $135,000!
2. Policy easing: global regulations are all showing a 'green light'.
Hong Kong is taking the lead; on August 1, the (Stablecoin Regulation) officially took effect, allowing compliant stablecoins to access the traditional financial system, thoroughly bridging the gap between fiat and the crypto world!
The EU has not been idle either; the (Crypto Asset Market Regulation Bill) defines Bitcoin as a 'commodity-type asset,' clarifying its property rights and clearing legal barriers for institutional entry.
The U.S. is the main event; next week, three major bills—the (GENIUS Act), (CLARITY Act), and (Anti-Central Bank Digital Currency Monitoring Act)—will be reviewed simultaneously! Once passed, the U.S. will become the first country to legislate for stablecoins and privacy coins, and the certainty of regulation will attract trillions in capital into the market!
Analysts are speaking out, with Matrixport stating: 'Policy headwinds have dissipated, and funds are shifting from wait-and-see to aggressive investment!'
3. Technical explosion: halving combined with short liquidations.
On the supply side, after Bitcoin's halving in April 2024, daily production will drop from 900 coins to 450, while institutions are buying over 100,000 coins monthly, leading to an increasingly severe supply-demand imbalance!
Shorts have faced a brutal slaughter; within 24 hours, 119,700 people were liquidated, with liquidation amounts reaching $541 million, of which short positions accounted for 89%! A vicious cycle of 'price increase - shorts closing - price rising again' has formed, showing a technical 'squeeze breakout'.
On-chain data is quite revealing; the number of non-zero addresses has surged, and the outflow from exchanges far exceeds the inflow, indicating that long-term holders are 'locking up' their assets, further reducing market liquidity.
$130,000, is it a peak or a new starting point?
Standard Chartered boldly predicts: Bitcoin could surge to $135,000 in the third quarter and may reach $200,000 by the end of the year! Bitwise's CIO even set an aggressive target of '$200,000 by year-end'. However, risks cannot be ignored—Trump's tariff policies, the Federal Reserve's interest rate cuts, and on-chain security incidents (like the $42 million hack of GMX exchange) could all trigger short-term market volatility.
Finally, it must be reminded: the current Bitcoin surge is no longer a simple 'gambling game', but an 'asset allocation revolution' led by institutions! As giants like BlackRock enter the game and global policies support crypto assets, $130,000 may just be a halftime break in this bull market. But remember: leverage is a double-edged sword; the $541 million liquidation wave in 24 hours is enough to bring any overly greedy individual back to square one overnight!
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