Bitcoin surged to a new record ≈ $112,022–$112,040 across major exchanges, eclipsing its previous peak from May ~“Pizza Day” ($111,970) .

On July 9, 2025, the flagship crypto broke out of a prolonged $105K–$110K consolidation to hit this new ATH .

Per Investopedia, BTC climbed above $112,000 before settling near $111,000 — marking its first record since May .

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🔍 What’s Fuelling the Surge?

1. Institutional Inflows & ETFs

Bitcoin ETFs have drawn substantial capital—between $13 billion and $50 billion in recent months—bringing serious legitimacy and buying power .

2. Macroeconomic Tailwinds

Anticipation of Federal Reserve rate cuts.

Geopolitical pressures (like tariffs or trade developments) are redirecting investor flow from equities into crypto .

3. Strategic Reserve Moves

The U.S. government’s Strategic Bitcoin Reserve, established March 2025, signals serious institutional adoption—reportedly involving ~200,000 BTC .

4. Short‑Squeeze Dynamics

Technical analysts note ~$1.6 billion in short positions are at risk, triggering rapid buy‑ins as stops hit above the old ATH .

5. Dormant Wallets Reactivating

Massive, long‑sleeping wallets holding ~20,000 BTC (worth ~$2 billion) from 2011 recently moved—spurring market attention and speculation .

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🎯 Analysts' Outlook & Projections

Technical target: Fib extensions project next resistance near $131K, with some Elliott‑Wave models extending targets toward $237K .

Fundamental forecasts:

Standard Chartered sees potential to reach $200K in the next year .

Fundstrat’s Tom Lee anticipates a swing to $250K if current supply-demand dynamics hold .

Caution from markets: Bitfinex analysts warn momentum has softened, with bulls awaiting fresh catalysts for continued upside

Bitcoin has decisively shattered its previous $111.9K ceiling, fueled by ETF inflows, macroeconomic shifts, onchain dynamics, and strategic institutional adoption. With technical patterns indicating more upside and analyst projections reaching new heights, the bull case remains strong—but continued momentum will depend on fresh macro catalysts and ETF activity.

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