#BTCBreaksATH

Here’s what’s behind the #BTCBreaksATH buzz 🧵

🔍 What happened?

Bitcoin has just smashed through its previous all-time high (ATH), recently topping $118,000—with reports citing levels between $118,661 and $118,856 on July 11, 2025

This event triggered the latest wave of the #BTCBreaksATH hashtag across social media platforms such as X/Twitter, celebrating the milestone .

🚀 Why did BTC surge now?

• Institutional Demand & ETFs

Massive inflows into spot Bitcoin ETFs—$1.18 billion in a single day and over $51 billion year‑to‑date—helped fuel the rally

The Economic Times

• Short Squeeze

A sudden rapid price jump triggered a massive short squeeze, liquidating over $1 billion of bearish bets within 24 hours—impacting hundreds of thousands of leveraged traders