#BTCBreaksATH

Here’s the current Bitcoin update:

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🚀 Bitcoin Shatters All-Time High

New Peak: Bitcoin recently surged past its previous May peak (~$111,970), carving out a fresh all-time high around $112,000–$112,150 on July 9 and 10, 2025 .

Drivers Behind the Move:

A wave of institutional demand, particularly from spot-BTC ETFs like BlackRock’s IBIT, which holds around 700,000 BTC (~3.3% of supply) .

Market enthusiasm spilling over from a “risk-on” rally in equities (Nasdaq, Nvidia, etc.) .

Fed rate-cut expectations, a weakening USD, and renewed macro optimism boosting risk assets .

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🔍 Notable Market Activity

Short Squeeze: Over $200–425 million in BTC shorts were liquidated amid the breakout .

According to on-chain data, long-term holders (HODLers) have increased, and the RHODL ratio is at a cycle-high — a signal of structural bullishness .

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🔮 What’s Next?

Technical outlook: Analysts highlight a bullish “cup & handle” pattern on the charts, with eyes on $115K–$120K as the next major targets .

Cautious voices warn of potential pullbacks due to:

Profit-taking.

Macro risks like possible rate changes or trade tensions .

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Summary

Bitcoin's breakthrough above $112K marks a major milestone — fueled by institutional flows, macro tailwinds, and technical momentum. But the path ahead could feature volatility. If you're tracking this rally, keep an eye on:

ETF inflows/outflows,

Macro headlines (Fed, USD),

Technical levels around $115K–$120K.

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Let me know if you'd like to dive into ETF trends, technical chart patterns, or how short liquidations impact these moves!