$BTC 📈 Market Highlights

All-time highs: BTC surged past $118K—breaking the previous peak and continuing its historic rally .

New milestones: One report noted a record close at $118,856, driven by strong ETF inflows and a weak USD .

Bullish technicals:

A cup-and-handle pattern suggests a further ~14% run-up toward $134.5K .

A bull-flag breakout targets mid-term upside near $163K .

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🏦 Institutional & Macro Drivers

Corporate adoption: Treasure-hunting firms like MicroStrategy, GameStop, and Figma increased their BTC holdings; Q2 saw ~23% rise in corporate BTC (~847K total) .

ETF boom: Bitcoin spot ETFs continue to absorb capital—this week alone saw over $1B in short liquidations and historic inflows .

Policy tailwinds:

A crypto‑friendly administration and GENIUS Act momentum are bolstering sentiment .

Trump’s move to create a Strategic Bitcoin Reserve gives BTC a quasi-sovereign endorsement .

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🔍 Key Risks & Watch Points

Trade headline volatility: Recent tariff actions from the White House triggered dips from ~$118K back to ~$108K .

Maturing rally cycles: Some technicals hint peak formation in mid‑July, suggesting a consolidation or pullback is possible .

Dormant wallet movements: Two wallets from the 2011 era (totaling 20K BTC) recently moved—worth over $2B, though not yet sold .