Bitcoin just logged its most explosive move of 2025 — surging 55% since April to reach a record high above $117,000. This historic rally was supercharged by the largest short-side liquidation event of the year, with over $1.01 billion in short positions wiped out in a single day. In total, 237,000 traders were liquidated, with one of the biggest hits being an $88.5 million BTC-USDT short on HTX. The move coincides with macro tailwinds, including the U.S. dollar’s worst first-half performance since 1973, falling nearly 11% over the past six months. The timing suggests a rotation from fiat into crypto, with Bitcoin emerging as a preferred hedge. Technically, BTC’s daily chart shows strong bullish momentum. EMAs are trending upward, MACD is expanding, and price continues to close at new highs. However, RSI signals that the market is now overbought, and significant ask walls between $117K and $117.4K suggest near-term resistance. Whether Bitcoin consolidates or breaks even higher depends on how it handles these zones. With macro and on-chain dynamics aligning, volatility ahead is almost guaranteed. #BTCBreaksATH #TrendTradingStrategy #TrumpTariffs $BTC #bitcoin Read the full analysis: www.ecoinimist.com/2025/07/11/bitcoin-crushes-117-k-as-dollar-crumbles/
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Bitcoin Hits Uncharted Waters: Soars 55% in 2025 to a New Record Above $117K
Bitcoin has just made its most explosive move of 2025, skyrocketing 55% since April to achieve an all-time high of over $117,000. This historic surge was supercharged by a massive short-side liquidation event, marking the largest of the year. In a single day, over $1.01 billion in short positions were wiped out, leaving 237,000 traders with massive losses. Among the biggest casualties was an $88.5 million BTC-USDT short position on HTX.
This rally isn't just a fluke—it comes amid significant macroeconomic shifts. The U.S. dollar experienced its worst first-half performance since 1973, plummeting nearly 11% over the past six months. This weakness has fueled a rotation from traditional fiat currencies into crypto assets, with Bitcoin emerging as the go-to hedge for investors seeking a store of value.
On the technical front, Bitcoin’s daily chart paints a picture of strong bullish momentum. Key indicators like the exponential moving averages (EMAs) are trending upward, while the MACD shows increasing momentum. Bitcoin continues to close at higher levels, signaling the continuation of the rally. However, the Relative Strength Index (RSI) is beginning to show overbought conditions, which suggests the rally might be nearing a short-term pause.
Additionally, there are significant ask walls between $117K and $117.4K, which may pose as resistance levels in the near term. The critical question now is whether Bitcoin will consolidate at these levels or break higher. How it handles these resistance zones will determine the next leg of the rally.
With both macroeconomic conditions and on-chain dynamics aligning in Bitcoin’s favor, it’s clear that volatility is on the horizon. Whether this rally turns into a prolonged bull run or faces a correction remains to be seen, but one thing is for certain: Bitcoin is far from out of the race.
Read the full analysis here: www.ecoinimist.com/2025/07/11/bitcoin-crushes-117-k-as-dollar-crumbles/
#BTC #Bitcoin #CryptoNews #BTCPrice #MacroEconomics #BTCBreaksATH #CryptoVolatility #USDollarDecline