Bitcoin Soars Past $118,800—Breakout Or Brutal Bull Trap?

Bitcoin’s summer march accelerated in the early hours of July 11, when the normative cryptocurrency cut $ 118,000 and the highest level on the printed stock exchange, which peaks over $ 118,800, depending on the place data. The rise in the height has wiped an estimated $ 1.25 billion in short positions during one trading day, according to Coinglass.

Bitcoin Bull or Bull?

The founder of Capriole Investments has moved Charles Edwards to X and revealed the penetration. “The highest new levels at all times are generated by the new ATHS. It is not wise usually ignoring a great outbreak like this, until it is nullified”, ” booksAdding that the demand for companies for companies “has grown greatly, with dozens of new companies appearing in recent months.” Edward’s basic projection calls for 50-70 percent progress in the next six months-amounting to 170,000-196,000 dollars.

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Focus on the treasury is supported by solid data. Public companies have added a record number 159,107 BTC in Q2 – total biases of more than 847,000 BTC, or about four percent of Max Supply. Bitcoin currency acquisitions have surpassed ETF net flows.

Matthew Segel, Head of Digital Asset Research in Vannek, framed Bitcoin’s path within Macro is the widest political background. “The natural path of Bitcoin is still higher, driven by continuous US debt problems, deficit deficit, demographic pioneers, weakening the dollar, increasing momentum on discounts in the prices of the Federal Reserve, and the possibility of a new chair in the Federal Reserve next year,” he wrote on X. Signl also highlights many Capitol Hill projects. It claims that these developments make $ 180,000 “to play a lot for 2025”.

Law makers seem to share a sense of urgency. A press release issued by the Financial Services Committee in the House of Representatives confirms that the July 14 Week will be allocated to the progress of the clarity law, the anti -monitoring law of CBDC and the genius law. The clip would determine the first comprehensive federal framework for Stablecoins and the market structure, a change that Signle says it “opens open capital markets” for the sector.

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The instant bitcoin boxes are barely: the net flows in the ISHARES box in Blackrock alone have paid their shares after 700,000 BTC within 18 months since its launch. However, Edwards will notice that the treasury companies became marginal buyer in 2025. The dynamic creates what Edwards calls “hepatic lifting wheel”, as companies outperform stock prices-exceeding 60 percent of the year to the date of the treasury-when they leave investors.

It is worth noting that the gathering is revealed against a supportive Macro background. The governor of the Federal Reserve, Christopher Walir, told Dallas’s Federal Reserve audience that he was “open to a policy reduction in July”, on the pretext that the current settings are “very narrow” given the pressure of inflated inflation. Meanwhile, US President Donald Trump has continued his attacks on Federal Reserve Chairman Jerome Powell over the past weeks, calling for discounts in immediate prices. Trump’s induction escalation appears to fade, which supports Bitcoin gathering.

Despite the main headlines of euphoria, technicians warn that momentum should maintain more than $ 110,000 to avoid a failed breach pattern. “This theory will be weakened with a closure of less than 110 thousand dollars and the abolition of less than 105 thousand dollars,” Edwards concludes.

At the time of the press, BTC was traded at $ 117,854.

Distinctive image created with Dall.e, Chart from TradingView.com