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The next day of ATH yesterday, Bitcoin reached $112,000. Bitcoin officially reached a new all-time peak of $113,900 today and expanded the bullish run that reignited in late June. Just 18 days ago, BTC traded about $98,000. Today’s ATH highlights the accelerated global shift in viewing Bitcoin as a value and strategic asset.
Meanwhile, over the past few hours, $50 million worth of Bitcoin shorts have been liquidated, and over $1.5 billion of Bitcoin short positions will be liquidated for $120,000, according to Coinglass. If Bitcoin continues to trajectory upward, it can trigger a large number of brief squeezes, forcing bearish merchants to buy at higher prices and further accelerate price action.
According to Polymarket, the world’s largest betting platform, the most likely result of reaching $115,000 by the end of July is 80%, with a 44% chance of reaching $120,000.
In an interview with Bloomberg, Fed committee member Christopher Waller is considering lowering interest rates this month, which could drive Bitcoin prices to rise.
President Donald Trump, who has been lowering interest rates to Fed Chairman Jerome Powell, even called on Powell to resign and be investigated by Congress, released the price of Bitcoin rising today on his truth-clarifying social accounts, and the stock reached record high prices. “Encryption,’passing the roof,” the president said. “The Fed should quickly lower the rate to reflect that force.”
Earlier today, 99.85% of all Bitcoin addresses were reportedly profitable, when Bitcoin hit 100% on its new all-time high above $113,900.
Since November 16, 2022, El Salvador has steadily purchased bitcoin every day for its Treasury reserves. Now, the country has accumulated over 6,233 BTC in the treasury. El Salvador’s Bitcoin reserves exceeded $700 million in value after today’s rising price changes.