📉Bitcoin Slightly Retraces After Hitting New High
On July 12, Bitcoin reached an intraday historical peak of $118,000, then adjusted to $117,645 (up 0.41% for the day).
**Key Drivers**:
1️⃣ **Support from Policies and Institutions**: The Trump administration established a "National Strategic Cryptocurrency Reserve" and continuous inflow of ETF funds (BlackRock's IBIT fund reached $76 billion), driving a surge in buying.
2️⃣ **Neutral Market Sentiment**: The Fear and Greed Index remains steady at 70, showing no signs of overheating, but short positions were liquidated exceeding $300 million in a single day, increasing volatility.
**Risk Warning**: $540 million in liquidations across the network in the past 24 hours, affecting 230,000 investors, highlighting high leverage risks.
> Analysts are optimistic: If the trend continues, it may challenge $120 by the end of the year.
