Kategorie: Bitcoin News

• Bitcoin saw a 5% daily surge that pushed BTC to a new all-time high above $118,000.
• The sudden gains had shorts wiped out, with over $1.1 billion in short positions liquidated in 24 hours.
• A trader on HTX was liquidated for $88 million.

A spark of bullish momentum has seen Bitcoin smash through the $118,000 mark today, setting a new all-time high.

The sharp move that had BTC moving from off the $110k low has triggered a massive wave of liquidations, which have wiped out over $1 billion in short positions across the cryptocurrency market in the past 24 hours.

The surge, fueled by institutional demand, regulatory clarity, and macroeconomic shifts, has sent shockwaves through the crypto space, leaving traders and analysts scrambling to predict what’s next for the world’s largest digital asset

Shorts see red amid $1.2 billion in liquidations

Bitcoin, the crypto market’s bellwether, surged to a new all-time high of $118,403 on Friday, July 2025.

Robust institutional demand and $1.18 billion in net inflows to Bitcoin spot ETFs on July 10 highlighted this move.

Macro headwinds, with investors factoring in possible Fed rate cuts, have also added to the upside fuel.

This rally triggered a massive short squeeze, with over $1.2 billion in crypto liquidations in the past 24 hours, a 140% increase from the prior day.

The most dramatic fallout from Bitcoin’s surge was the annihilation of short-sellers.

Over $1.11 billion in short contracts were liquidated in the past 24 hours, with $635 million tied to Bitcoin and $208 million to Ether, affecting 269,681 traders.

One notable casualty was a single trader on the HTX exchange, whose $88 million short position was wiped out, underscoring the intensity of the market’s upward momentum.

Whales make moves as Bitcoin surges

With Bitcoin breaking a new all-time high, large holders were keen to keep hold of their windfalls.

It included a Binance whale’s “powerful punch” that helped the market higher. CryptoQuant highlighted this in a post on X.

“Until recently, whales on the US-based Coinbase exchange were driving the market, but today’s surge was driven by a significant move from a major whale on the Binance exchange,” said CryptoQuant’s DanCoinInvestor.

While others bought BTC, some scrambled to preserve their positions amid massive liquidations.

According to Lookonchain, a whale who was down by more than $10 million on a 1,135 BTC or $132.65 million short position, opted to deposit more funds to avoid liquidation.

The whale added the $5.5 million USDC to his position on Hyperliquid with a new liquidation price of $121,080.

James Wynn, recently in the headlines for major losses, has also seen positions wiped out in the last 24 hours.

James Wynn’s $BTC short position got fully liquidated in less than 12 hours, resulting in another loss of $27,921.63!https://t.co/205yuTcrz1 pic.twitter.com/AyVORksque

— Lookonchain (@lookonchain) July 11, 2025

As BTC eyes further gains, analysts are saying the supply-side dynamics are tightening.

For instance, Glassnode has noted that long-term holders and smaller entities are accumulating Bitcoin faster than its issuance rate.

This accumulation, coupled with compressed volatility across all timeframes, has set the stage for Bitcoin’s breakout, with analysts eyeing $120,000 as the next psychological target.

The post Over $1.1 billion shorts obliterated as Bitcoin hits $118k appeared first on CoinJournal.

Bitcoin has once again smashed through its previous records, surging past the $112,000 mark for the first time in its history to set a new all-time high on July 9.

The milestone represents a significant achievement for the leading cryptocurrency as it continues to recover from the market aftershocks of US President Donald Trump’s tariff policies and solidifies its position in an evolving financial landscape.

As the broader crypto market continues its recovery, Bitcoin (BTC) hit a new record high of $112,055 on Tuesday. This fresh peak surpasses the previous all-time high of $111,970.17, which was set on May 22.

The digital asset has been trading in a volatile range since then, with the area around the $110,000 level proving to be a significant psychological and technical barrier.

Over the past several weeks, each time Bitcoin’s price neared this level, it was met with a combination of profit-taking from existing holders and increased pressure from short-sellers.

This latest decisive break suggests a new wave of bullish momentum has taken hold.

The journey of Bitcoin, first introduced in a 2008 white paper by its pseudonymous creator, Satoshi Nakamoto, has been remarkable.

Launched in 2009 as the world’s first decentralized cryptocurrency, it has grown to become the largest digital asset, with a current market capitalization of $2.18 trillion.

At the time of this report, Bitcoin accounted for nearly 65% of the total crypto market capitalization of $3.4 trillion.

From crossing the $100 mark in April 2013 to the $1,000 mark in November of that same year, its path has been marked by staggering growth.

It first hit the $10,000 level in November 2017 and reached a memorable peak of $69,000 in November 2021.

Following President Trump’s victory in his second presidential election, it set a new all-time high of $76,999 in early November 2024, before crossing the landmark $100,000 target in early December 2024.

The institutional bedrock: a maturing market

A key factor underpinning Bitcoin’s current strength is its growing acceptance within the traditional financial system.

With the Trump administration signaling its validation of Bitcoin through its plan to create a strategic US Bitcoin reserve, and with the continued institutional adoption led by Wall Street giants such as BlackRock (NYSE: BLK), the “king coin” appears to have found a more secure home, at least for now, within the US financial ecosystem.

BlackRock’s iShares Bitcoin Trust, a prime example of this institutional integration, now currently owns 3.5% of the total supply of Bitcoin.

The success of this and other spot Bitcoin ETFs has had a profound effect on institutional investment and has likely influenced the broader market optimism.

A quiet build-up, a bullish setup?

While the new all-time high is a headline-grabbing event, some market watchers have noted that the build-up to this moment has been relatively slow and quiet, which they interpret as a potentially bullish setup for what’s to come.

“Crypto feels so quiet, [while] bitcoin is ready to move,” wrote Charlie Morris, chief investment officer at ByteTree, in a recent report.

Morris pointed out that Bitcoin’s volatility has been steadily declining, a pattern that has historically preceded large upward price movements.

This sentiment was reflected in the performance of crypto-related stocks. Shares of Strategy (MSTR) were higher by 4.4%, trading at $414, just a few dollars shy of its highest level in 2025 (though still well below its record high of $543 set late last year).

Crypto exchange Coinbase (COIN) was ahead by 5%, and Bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) were both up by roughly 6%, all riding the wave of Bitcoin’s record-breaking achievement.

The post Bitcoin hits record high of $112,055; crypto stocks rally in response appeared first on CoinJournal.

• Trump Jr. invests $4M in crypto-focused startup Thumzup despite minimal revenue.

• Thumzup allocates up to 90% of liquid assets to Bitcoin and other cryptocurrencies.

• Eric Trump joins crypto-heavy Metaplanet; both brothers advise Dominari Securities.

Donald Trump Jr. has sparked fresh interest with a $4 million stake in Thumzup Media Corp., a little-known Los Angeles startup navigating the crowded world of social media and advertising tech.

Thumzup, which pays everyday users to promote brands on Instagram, hasn’t made much noise financially as it reported just $151 in revenue and over $2 million in losses in the first quarter of 2025.

Still, the company has become a curious symbol of a rising trend: businesses stockpiling cryptocurrency as part of their corporate strategy.

Trump Jr.’s 350,000 shares’ worth move seems less about short-term earnings and more about backing a new kind of digital play.

Thumzup’s board has greenlit a bold shift in strategy: allowing up to 90% of the company’s liquid assets to be held in Bitcoin.

As of early July, the company held 19.106 BTC, roughly $2.1 million at current market value.

While the “Bitcoin treasury” playbook has been popularized by companies like MicroStrategy, Thumzup appears to be taking it a step further.

After raising $6 million in a recent private funding round, the board gave the go-ahead to diversify its crypto holdings to include Ethereum, Solana, Dogecoin, Litecoin, Ripple, and USD Coin.

Company leaders say the expanded portfolio is designed not just to hedge against Bitcoin’s volatility, but also to tap into the broader upside of the crypto market.

It also opens the door for accepting crypto payments from Thumzup’s growing base of over 1,000 advertisers.

Trump family’s growing interest in crypto

The Trump family is making deeper inroads into the crypto world.

Both Donald Trump Jr. and his brother Eric are advising Dominari Securities, the firm that led Thumzup’s recent funding round and began investing in a Bitcoin ETF earlier this year.

Eric has also taken a seat on the board of Metaplanet, a Japanese company that pivoted from the hospitality business to becoming a major Bitcoin holder.

At the same time, Trump Media & Technology Group, which owns Truth Social, recently locked in $2.3 billion in funding, much of it reportedly aimed at Bitcoin-related investments.

The Trump family’s deepening ties to cryptocurrency mark a sharp shift from their earlier stance. Once a vocal skeptic, former President Donald Trump now says he wants to make the US the “crypto capital of the world.”

For the Trumps, embracing crypto isn’t just about financial opportunity, it’s also a strategic move to connect with a growing base of digital asset enthusiasts and stay relevant in a fast-changing economic landscape.

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Bitcoin continues to trade in a narrow range as the Asian trading day begins on Wednesday, with the world’s largest digital asset changing hands above $108,900.

This period of consolidation comes as market observers point to a lack of strong conviction, even as a new filing reveals plans from Trump Media & Technology Group to launch a diversified ‘Crypto Blue Chip ETF’.

Bitcoin is holding its ground, and the CoinDesk 20 index, a broad measure of the largest digital assets, is up 1.7% to over 3,100, according to CoinDesk market data.

However, the current price action feels more like a drift than a decisive rally.

According to market observers, what separates Bitcoin’s current position from a sustained push past the $110,000 mark is a lack of clear market conviction.

In a recent report, on-chain analytics firm Glassnode highlighted several indicators of this hesitancy.

Spot trading volumes for Bitcoin continue to linger below their usual statistical bands, and inflows into spot Bitcoin ETFs have contracted sharply from their recent highs.

Furthermore, institutional investors appear cautious, despite sitting on significant unrealized gains, as shown by elevated ETF Market Value to Realized Value (MVRV) ratios.

Trading firm Wintermute, in a market update from earlier this week, described this environment as a “barbell market.”

They pointed to a stark divide between renewed enthusiasm in high-beta, high-risk assets like memecoins, and a preference for the stability of established large-cap tokens like Bitcoin and Ethereum.

Notably, last year’s “narrative darlings,” such as AI and DePIN (Decentralized Physical Infrastructure Networks) tokens, have lost investor attention.

This suggests that traders are either rotating into the speculative frenzy of memecoins—many of the major ones like DOGE, SHIB, and PEPE are up over 8% in the last week—or they are staying put in the perceived safety of BTC and ETH, which are seen as battle-tested and secure.

With global equity markets largely shrugging off recent geopolitical uncertainties, Bitcoin’s current hesitancy underscores a lingering caution among crypto traders.

The market seems to be awaiting a clearer directional signal before making a decisive move higher, and things are likely to remain range-bound until that catalyst appears.

Trump Media’s crypto gambit: the ‘Blue Chip ETF’

Adding a new dimension to the crypto investment landscape, Trump Media & Technology Group (DJT) has revealed plans to launch another exchange-traded fund (ETF), this one designed to hold more than just Bitcoin and Ether.

The Truth Social parent company, founded by President Donald Trump, filed on Tuesday to create the “Truth Social Crypto Blue Chip ETF.”

According to the filing, the proposed fund would be composed of 70% Bitcoin and 15% Ether, complemented by an 8% allocation to Solana, 5% to Cronos, and 2% to XRP.

The filing stated that the proposed fund would trade on the New York Stock Exchange’s Arca platform, a popular venue for ETFs.

This news follows a move by Trump Media last month to file for two other ETFs: one that would invest 75% of its assets in Bitcoin and the remainder in Ether, and another that would be comprised solely of Bitcoin.

In all three instances, Trump Media has indicated that the launches would happen “later this year.” Back in March, Crypto.com announced that it would partner with Trump Media to offer these ETFs.

This series of filings underscores Trump Media’s deepening commitment to the digital asset space, following its announcement in May of a plan to raise $2.5 billion to purchase Bitcoin for its corporate treasury.

As of the latest market data, Bitcoin was trading just below $109,000, while Ether was changing hands above $2,600.

The other components of the proposed ETF, Solana, Cronos, and XRP, were trading at about $151, 10 cents, and $2.30, respectively.

Shares of Trump Media (DJT) rose close to 3% on Tuesday following the filing, though they remain down more than 40% for the year 2025.

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