Bitcoin reaches new all -time high over $ 117,000

Bitcoin crossed the $ 117,000 mark on July 11, marking a new all -time high in the middle of a strong market dynamics.

The digital asset rose by 5% to $ 117,700 within 24 hours, which is due to a combination of technical outbreak, massive short liquidations and strong institutional tributaries in spot ETFs.

Technical outbreak triggers Short-Squeeze

The rally won after Bitcoin broken the resistance at $ 115,000 and had overcome a downward trend line at $ 111,000. This technical outbreak triggered a wave of algorithmic purchases and led to a cascade of liquidations that added up to a total of $ 591 million in empty sales within 24 hours.

The derivative markets reflected the extreme positioning. The open positions suddenly rose by $ 34.3% to $ 1.13 trillions, while the refinancing rates for eternal futures rose by 142.77%-both license plates of a short squeeze situation. The combination of forced return purchases and trend -followed shops increased the upward trend of Bitcoin.

Bullic structure remains intact

From a technical point of view, Bitcoin remains firmly in the upward trend. The price lasts over all important sliding, including the 7-day SMA at $ 110.009. The RSI (14) is 70.96-increased, but not yet overheated-while the MACD histogram has increased to +642.92, which increases upward moment.

According to Fibonacci projections, the next resistance brand is $ 121.592, which marks the 127.2%extent of the previous outbreak zone. Since the interest bully mood, the ETF currents and the momentum indicators agree, Bitcoin seems to be ready to test higher goals in the near future.

Alexander has been working in the crypto industry for three years and has made a name for himself during this time through his active participation in observing the market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional obligation, but a deep personal passion. He follows the news from the industry every day, analyzes trends and is enthusiastic about every new step in the development of blockchain solutions. His enthusiasm drives him to constantly learn and share his knowledge because he sees the future in the digital financial world and its role in global transformation.