A day after yesterday’s ATH the place Bitcoin reached $112,000. Bitcoin as we speak formally reached a brand new all-time excessive (ATH) of $113,900, extending its bullish run that reignited in late June. Simply 18 days in the past, BTC was buying and selling round $98,000. At present’s ATH highlights the accelerating world shift towards viewing Bitcoin as each a retailer of worth and a strategic asset.
In the meantime, $50 million price of Bitcoin shorts have been liquidated up to now hours and over $1.5 billion price of Bitcoin quick positions are set to be liquidated at $120,000, based on information from Coinglass. If Bitcoin continues its upward trajectory, a large quick squeeze may very well be triggered, forcing bearish merchants to purchase again in at greater costs and additional accelerating the worth motion.
Based on Polymarket, the world’s largest betting platform, the almost definitely end result of hitting $115,000 by the tip of July is 80% and 44% likelihood of hitting $120,000.
In an interview with Bloomberg, the Federal Reserve Board Member Christopher Waller is contemplating slicing rates of interest this month, which may gas the worth of Bitcoin to go even greater.
President Donald Trump, who’s been closely pressuring Fed Chair Jerome Powell to chop rates of interest, and even known as for Powell to resign and be investigated by Congress, posted concerning the worth of Bitcoin rising as we speak on his Fact Social account, together with shares additionally hitting report highs. “CRYPTO, ‘By the Roof,” the President acknowledged. “FED SHOULD RAPIDLY LOWER RATE TO REFLECT THIS STRENGTH.”
Earlier as we speak, it was reported that 99.85% of all Bitcoin addresses have been in revenue, with that quantity hitting 100% as Bitcoin smashed via its new all time excessive above $113,900.
Since November 16, 2022, El Salvador has been steadily buying bitcoin day by day for its treasury reserves. Now, the nation has amassed over 6,233 BTC of their treasury. After as we speak’s upward worth motion, El Salvador’s Bitcoin reserves surpassed $700 million in worth.
