Key Takeaways:
- Bitcoin reached a new all-time high of $118,668, driven by institutional inflows, ETF demand, and a major short squeeze.
- Over $1 billion in short liquidations and $1.18 billion in single-day ETF inflows highlight strong market momentum.
- Low exchange reserves and supportive macro factors, including potential Fed rate cuts, suggest continued bullish pressure.
Bitcoin hit a fresh all-time high of $118,668 on July 11, extending its powerful 2025 rally driven by institutional momentum, ETF inflows, and fading retail sell pressure.
The milestone comes just a day after breaking past $113,800, highlighting the pace and strength of the ongoing price discovery phase.
BREAKING: $118,000 BITCOIN 🚀 pic.twitter.com/acPiGVLTtS
— Bitcoin Magazine (@BitcoinMagazine) July 11, 2025
Massive liquidations accompanied the surge, with over $1 billion in short positions wiped out in the past 24 hours.
Nearly 237,000 traders were liquidated, amplifying upward momentum through a classic short squeeze.
Meanwhile, Bitcoin ETFs logged $1.18 billion in inflows on Thursday alone, pushing cumulative 2025 inflows above $51 billion.
On-chain data shows exchange reserves at multi-year lows, signaling supply constraints as long-term holders and institutions continue accumulating.
Binance’s spot market volume has also spiked, further reflecting deep-pocketed interest driving the rally.
Macro conditions are also supportive: expectations of upcoming Federal Reserve rate cuts and bipartisan support for pro-Bitcoin policies, including the proposed U.S. Strategic Bitcoin Reserve, have reinforced investor sentiment.
With momentum on its side, Bitcoin’s breakout above $118,668 may mark the beginning of an extended bullish leg.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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