🚀 Bitcoin Hits New All-Time High Near $118K—Then Takes a Dip

On July 11, 2025, Bitcoin surged to a new all-time high—peaking between $118,600 and $118,856, up over 26% YTD and more than double its value vs. last year .

Major drivers: a blistering spot‑Bitcoin ETF inflow (BlackRock’s IBIT, Fidelity’s FBTC among others), a weakening U.S. dollar, and strong crypto‑friendly signals from the Trump administration including passage of the GENIUS Act and plans for a Crypto Blue Chip ETF .

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⏬ Then It Sputtered: Why the Dump?

After the breakout, on‑chain profit indicators (SOPR) spiked—showing investors locking in gains at the peak, often a sign of a local top rather than ongoing momentum .

A massive $200M short position liquidation in minutes on Bybit pushed BTC briefly higher toward $118,393, but momentum quickly faded—a classic liquidation wick setup .

Technical charts reveal thin support below $113.7K, meaning corrections could come sharply if that zone breaks .

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🧠 Insights & What’s Next?

1. Institutional dominance: Inflows into ETFs and corporate treasuries (e.g. MSTR, GameStop) suggest structural backing .

2. Regulatory tailwinds: The U.S. is moving toward legitimization—from stablecoin legislation (GENIUS Act) to public-sector Bitcoin reserves and ETF approvals .

3. Short-term volatility risk: Surge‑and‑dump setups fueled by profit‑taking and short squeezes lead to fragile tops unless fresh demand sustains momentum .

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📊 Quick Summary Table

Metric / Driver Status & Notes

ATH Price Range ~$118,600–118,856

ETF Inflows Surged to more than $1 billion in net flows recently

Short-term caution signals SOPR spike, large liquidations, high leverage shorts

Support Zones Thin support below $113.7K ; risk of fast drop toward ~$108.5K if break

Medium-term upside Institutional and regulatory developments suggest further rally potential 🔼

$BTC