Bitcoin Blasts Past $118K to Hit New All-Time High- Eyes Turn to $150K Target
The post Bitcoin Blasts Past $118K to Hit New All-Time High- Eyes Turn to $150K Target appeared on BitcoinEthereumNews.com.
Bitcoin surged above $118kand caused over $425 million in short liquidations within one hour. Analysts expect Bitcoin to hit between $150,000 and $180,000 due to strong demand. Bitcoin has surged above $118,000 for the first time, hitting $118,403 according to CoinMarketCap data. This was after an impresive 6% rise over the past 24 hours. Bitcoin has been strugling to break past key resistance level of $110,530 for the last few weeks. Just a day earlier, the cryptocurrency set a new record at $113,788, continuing a rapid upward trend that started earlier in the week. Thursday’s performance marks Bitcoin’s first new all-time high since May 22, when it reached just under $113,000 before falling back over the following month. The return to record levels signals renewed market strength after weeks of consolidation. After weeks of consolidation, Bitcoin’s sudden momentum is forcing bearish traders to exit positions at a loss. Over $560 million in crypto positions were liquidated in a single hour, with Bitcoin shorts accounting for $425 million. CoinGlass reports that Bitcoin short sellers have now taken over $542 million in liquidations over the last 24 hours. The surge in Bitcoin’s price has reignited bullish forecasts. Markus Thielen of 10x Research estimates a 60% probability of another 20% rally within two months, citing strong technical momentum. The growing confidence among traders is mirrored by increased participation in long positions and accelerated derivatives activity. Institutional Demand Fuels Price Targets Major corporate investments continue to boost market sentiment. GameStop added to its balance sheet with a $513 million Bitcoin purchase in May. Trump Media and Technology Group also announced plans to raise $2.5 billion to build a corporate Bitcoin reserve, adding further legitimacy to institutional crypto holdings. Hedge fund manager Anthony Scaramucci, founder of SkyBridge Capital, remains confident about Bitcoin’s trajectory. Speaking on…
Filed under: News - @ July 11, 2025 12:20 pm