Bitcoin Smashes $118,000 – What's the Next Move?
Bitcoin has roared past the $118,000 mark, hitting a new 2025 all-time high! As of Friday, July 11, 2025, BTC is trading around $118,300, up roughly 6.66% in the last 24 hours. This momentous breakout, fueled by record institutional ETF inflows ($1.18B yesterday alone) and favorable geopolitical developments, has the crypto world buzzing.
Analysts are eyeing significant upside. With strong bullish momentum, the next psychological targets for Bitcoin are the $120,000 to $125,000 range, with some even predicting a surge to $130,000 or beyond by mid-July. Bitcoin's current price is firmly above key moving averages like the 20-EMA ($108,285) and 50-EMA ($105,843), signaling robust short-term strength.
However, a prudent approach is always advised. While the sentiment is overwhelmingly bullish, a failure to sustain above $114,000 could trigger a pullback towards the $110,000-$112,000 support levels. The current rally has also liquidated a substantial amount of short positions, which can sometimes lead to a temporary pause or consolidation. As Bitcoin enters uncharted territory, volatility remains a factor. Keep an eye on institutional flow and broader market sentiment for clues on its continued ascent.