$BTC Bitcoin has surged past $112,000, with some reports indicating prices as high as $117,000 or more on certain exchanges.

It briefly dipped below $100,000 in late June but has since recovered strongly, now up roughly 20% on the year.

On July 9th and 10th, Bitcoin achieved new all-time highs, surpassing its previous record set in May.

While there was some sideways price action and consolidation around the $109,000 mark recently, the overall sentiment remains bullish.

New All-Time Highs (ATHs): Breaking ATHs generates significant market excitement and can attract more investors, creating a positive feedback loop. The rally has triggered short squeezes, adding to the upward momentum.